Hess Co. (NYSE:HES) Stock Position Lessened by Shell Asset Management Co.

Shell Asset Management Co. decreased its holdings in Hess Co. (NYSE:HESFree Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,063 shares of the oil and gas producer’s stock after selling 280 shares during the quarter. Shell Asset Management Co.’s holdings in Hess were worth $1,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of HES. Spire Wealth Management grew its stake in shares of Hess by 30.7% in the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 75 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Hess by 51.9% in the third quarter. Janney Montgomery Scott LLC now owns 24,233 shares of the oil and gas producer’s stock worth $3,708,000 after purchasing an additional 8,283 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Hess by 6.8% in the third quarter. HighTower Advisors LLC now owns 35,649 shares of the oil and gas producer’s stock worth $5,447,000 after purchasing an additional 2,255 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Hess by 3.7% in the third quarter. Blair William & Co. IL now owns 5,556 shares of the oil and gas producer’s stock worth $850,000 after purchasing an additional 199 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Hess by 3.8% during the third quarter. Deutsche Bank AG now owns 501,118 shares of the oil and gas producer’s stock valued at $76,671,000 after buying an additional 18,341 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.76% of the company’s stock.

Hess Trading Up 0.2 %

Shares of NYSE HES opened at $147.81 on Tuesday. The business has a fifty day simple moving average of $154.98 and a 200-day simple moving average of $148.23. The company has a market cap of $45.54 billion, a price-to-earnings ratio of 22.64 and a beta of 1.20. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. Hess Co. has a 12 month low of $129.12 and a 12 month high of $167.75.

Hess (NYSE:HESGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. Sell-side analysts predict that Hess Co. will post 9.55 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s dividend payout ratio is currently 26.80%.

Analyst Ratings Changes

HES has been the subject of several research reports. Citigroup raised their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Mizuho raised their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Piper Sandler raised their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. StockNews.com initiated coverage on Hess in a research note on Tuesday, June 4th. They set a “sell” rating for the company. Finally, Susquehanna raised their target price on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $177.83.

View Our Latest Stock Analysis on HES

Hess Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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