Transcend Capital Advisors LLC Lowers Stock Position in Hess Co. (NYSE:HES)

Transcend Capital Advisors LLC cut its stake in shares of Hess Co. (NYSE:HESGet Rating) by 9.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,977 shares of the oil and gas producer’s stock after selling 206 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Hess were worth $209,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. City State Bank purchased a new stake in Hess during the 4th quarter worth $25,000. Riverview Trust Co purchased a new stake in Hess during the 1st quarter worth $25,000. HM Payson & Co. boosted its position in Hess by 880.0% during the 1st quarter. HM Payson & Co. now owns 245 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 220 shares during the period. Washington Trust Advisors Inc. purchased a new stake in Hess during the 1st quarter worth $28,000. Finally, Citizens National Bank Trust Department purchased a new stake in Hess during the 4th quarter worth $37,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Geurt G. Schoonman sold 12,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $123.73, for a total transaction of $1,484,760.00. Following the sale, the senior vice president now owns 26,391 shares in the company, valued at $3,265,358.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Geurt G. Schoonman sold 12,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $123.73, for a total transaction of $1,484,760.00. Following the sale, the senior vice president now owns 26,391 shares in the company, valued at $3,265,358.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gregory P. Hill sold 10,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $116.62, for a total transaction of $1,166,200.00. Following the sale, the chief operating officer now owns 91,635 shares in the company, valued at approximately $10,686,473.70. The disclosure for this sale can be found here. 9.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup upped their price target on shares of Hess from $110.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James upped their price target on shares of Hess from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 31st. Morgan Stanley decreased their price objective on shares of Hess from $135.00 to $134.00 and set an “overweight” rating for the company in a research report on Monday, August 29th. Mizuho decreased their price objective on shares of Hess from $158.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Finally, Piper Sandler upped their price objective on shares of Hess from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Hess has an average rating of “Moderate Buy” and an average price target of $136.08.

Hess Stock Performance

Shares of Hess stock opened at $114.40 on Friday. The firm has a market cap of $35.42 billion, a PE ratio of 24.29 and a beta of 1.56. The firm’s 50-day simple moving average is $113.97 and its 200-day simple moving average is $110.82. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.55 and a current ratio of 1.69. Hess Co. has a 1 year low of $68.32 and a 1 year high of $131.43.

Hess (NYSE:HESGet Rating) last issued its earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.60 billion. Hess had a net margin of 15.53% and a return on equity of 20.25%. The company’s revenue for the quarter was up 87.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Equities analysts forecast that Hess Co. will post 8.96 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be paid a $0.375 dividend. The ex-dividend date is Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.31%. Hess’s dividend payout ratio (DPR) is presently 31.85%.

About Hess

(Get Rating)

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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