Hess Co. (NYSE:HES) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP decreased its holdings in Hess Co. (NYSE:HES) by 22.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 897,299 shares of the oil and gas producer’s stock after selling 259,700 shares during the quarter. Two Sigma Advisers LP’s holdings in Hess were worth $121,853,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HES. Drive Wealth Management LLC boosted its stake in shares of Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after buying an additional 72 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its holdings in shares of Hess by 2.4% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock valued at $444,000 after acquiring an additional 78 shares during the last quarter. UMB Bank n.a. raised its position in shares of Hess by 4.7% during the 2nd quarter. UMB Bank n.a. now owns 1,771 shares of the oil and gas producer’s stock valued at $261,000 after acquiring an additional 80 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Hess by 0.6% in the second quarter. HB Wealth Management LLC now owns 14,629 shares of the oil and gas producer’s stock worth $2,158,000 after purchasing an additional 87 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Hess by 4.7% during the second quarter. Checchi Capital Advisers LLC now owns 2,130 shares of the oil and gas producer’s stock worth $314,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HES. Wells Fargo & Company lowered their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Susquehanna increased their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Piper Sandler dropped their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Finally, Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $164.50.

Hess Trading Up 0.5 %

Shares of Hess stock opened at $144.75 on Friday. The business has a fifty day simple moving average of $141.23 and a 200-day simple moving average of $141.93. The firm has a market cap of $44.60 billion, a price-to-earnings ratio of 16.87 and a beta of 1.17. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. 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 posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Hess Co. will post 9.74 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.38%. Hess’s dividend payout ratio is currently 23.31%.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares in the company, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the transaction, the chief executive officer now directly owns 229,465 shares in the company, valued at $33,914,927. The trade was a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,370 shares of company stock worth $45,856,309. Insiders own 9.76% of the company’s stock.

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.