Hess Co. (NYSE:HES) Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC lifted its holdings in shares of Hess Co. (NYSE:HES) by 1,584.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,413 shares of the oil and gas producer’s stock after purchasing an additional 6,973 shares during the quarter. TD Private Client Wealth LLC’s holdings in Hess were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Primecap Management Co. CA lifted its position in Hess by 4.4% during the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after buying an additional 340,490 shares during the period. HBK Investments L P increased its stake in shares of Hess by 16.7% during the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock valued at $966,600,000 after acquiring an additional 1,017,720 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hess by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock worth $884,709,000 after acquiring an additional 74,085 shares during the period. Wellington Management Group LLP boosted its position in shares of Hess by 58.9% in the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after acquiring an additional 1,391,311 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Hess by 31.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock valued at $450,696,000 after purchasing an additional 785,270 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Analyst Ratings Changes

HES has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Mizuho dropped their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. StockNews.com began coverage on Hess in a report on Thursday. They issued a “hold” rating on the stock. Susquehanna boosted their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $170.50.

Hess Price Performance

Shares of NYSE HES opened at $140.20 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 16.34 and a beta of 1.17. The business has a 50-day moving average of $141.65 and a 200-day moving average of $141.48.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. Hess’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 EPS. On average, equities analysts anticipate that Hess Co. will post 9.74 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.43%. The ex-dividend date is Monday, December 16th. Hess’s dividend payout ratio (DPR) is 23.31%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares in the company, valued at $31,791,753.09. The trade was a 28.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock worth $45,856,309 in the last quarter. 9.76% of the stock is owned by corporate insiders.

Hess Company Profile

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.