Summit Trail Advisors LLC Purchases Shares of 1,584 Hess Co. (NYSE:HES)

Summit Trail Advisors LLC acquired a new position in Hess Co. (NYSE:HES) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,584 shares of the oil and gas producer’s stock, valued at approximately $228,000.

Several other large investors also recently made changes to their positions in HES. Commonwealth Equity Services LLC grew its stake in shares of Hess by 6.5% in the third quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the oil and gas producer’s stock valued at $1,981,000 after buying an additional 786 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Hess by 8.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,077 shares of the oil and gas producer’s stock valued at $1,695,000 after buying an additional 899 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Hess by 3.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,239 shares of the oil and gas producer’s stock worth $3,403,000 after purchasing an additional 730 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Hess during the 3rd quarter valued at about $231,000. Finally, Brown Advisory Inc. grew its holdings in shares of Hess by 2.5% during the third quarter. Brown Advisory Inc. now owns 15,175 shares of the oil and gas producer’s stock valued at $2,322,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HES has been the topic of several research analyst reports. Mizuho lifted their price target on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Piper Sandler lifted their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Susquehanna raised their price objective on Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, StockNews.com initiated coverage on Hess in a research report on Friday, May 3rd. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.42.

Hess Price Performance

NYSE HES opened at $157.66 on Thursday. The company has a 50 day simple moving average of $152.88 and a 200-day simple moving average of $146.99. Hess Co. has a 52-week low of $124.27 and a 52-week high of $167.75. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 24.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 0.96.

Hess (NYSE:HES) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue was up 36.2% compared to the same quarter last year. Equities research analysts predict that Hess Co. will post 9.17 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.11%. Hess’s dividend payout ratio is currently 26.80%.

About Hess

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.