Hess Co. (NYSE:HES) CEO Sells $18,385,000.00 in Stock

Hess Co. (NYSE:HES) CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total value of $18,385,000.00. Following the sale, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. This trade represents a 36.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Hess Price Performance

Shares of NYSE HES opened at $148.65 on Friday. The business has a 50 day moving average price of $138.79 and a two-hundred day moving average price of $142.69. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The firm has a market cap of $45.80 billion, a PE ratio of 17.33 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Hess Co. will post 9.72 earnings per share for the current fiscal year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.35%. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is presently 23.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HES. Piper Sandler decreased their target price on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Scotiabank raised their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company dropped their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and an average target price of $163.30.

Hedge Funds Weigh In On Hess

Several large investors have recently added to or reduced their stakes in HES. New Covenant Trust Company N.A. bought a new stake in shares of Hess in the 1st quarter worth approximately $25,000. Covestor Ltd increased its stake in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Hess during the third quarter worth approximately $37,000. Finally, Eastern Bank bought a new position in shares of Hess in the third quarter worth $48,000. 88.51% of the stock is currently owned by institutional investors.

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.