Oppenheimer & Co. Inc. Has $277,000 Stock Position in Hess Co. (NYSE:HES)

Oppenheimer & Co. Inc. lowered its position in Hess Co. (NYSE:HESGet Rating) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,586 shares of the oil and gas producer’s stock after selling 370 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hess were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in shares of Hess by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the oil and gas producer’s stock valued at $1,999,000 after acquiring an additional 100 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Hess by 5.9% in the fourth quarter. First Horizon Advisors Inc. now owns 2,023 shares of the oil and gas producer’s stock valued at $149,000 after acquiring an additional 113 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Hess by 4.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,066 shares of the oil and gas producer’s stock valued at $227,000 after acquiring an additional 139 shares during the last quarter. Mission Wealth Management LP raised its stake in shares of Hess by 1.5% in the first quarter. Mission Wealth Management LP now owns 9,778 shares of the oil and gas producer’s stock valued at $1,047,000 after acquiring an additional 144 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of Hess by 1.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 11,491 shares of the oil and gas producer’s stock valued at $851,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Activity

In other news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $128.29, for a total value of $4,651,795.40. Following the completion of the transaction, the senior vice president now owns 95,624 shares of the company’s stock, valued at approximately $12,267,602.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Geurt G. Schoonman sold 12,000 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $123.73, for a total value of $1,484,760.00. Following the completion of the transaction, the senior vice president now directly owns 26,391 shares of the company’s stock, valued at approximately $3,265,358.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the completion of the transaction, the senior vice president now directly owns 95,624 shares of the company’s stock, valued at $12,267,602.96. The disclosure for this sale can be found here. Insiders sold 58,260 shares of company stock valued at $7,302,755 in the last quarter. Company insiders own 9.93% of the company’s stock.

Hess Price Performance

Shares of HES stock opened at $119.44 on Wednesday. Hess Co. has a 12-month low of $66.20 and a 12-month high of $131.43. The firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 25.36 and a beta of 1.56. The company has a quick ratio of 1.55, a current ratio of 1.69 and a debt-to-equity ratio of 1.10. The firm has a fifty day moving average of $107.80 and a 200-day moving average of $108.16.

Hess (NYSE:HESGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.01. Hess had a net margin of 15.53% and a return on equity of 20.25%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The firm’s revenue was up 87.0% on a year-over-year basis. On average, equities research analysts forecast that Hess Co. will post 9.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

HES has been the subject of several research analyst reports. Mizuho dropped their price objective on shares of Hess from $158.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Morgan Stanley dropped their price objective on shares of Hess from $135.00 to $134.00 and set an “overweight” rating for the company in a research report on Monday, August 29th. Raymond James boosted their price objective on shares of Hess from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 31st. Bank of America dropped their price objective on shares of Hess from $180.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Finally, Barclays dropped their price objective on shares of Hess from $149.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Hess has a consensus rating of “Moderate Buy” and a consensus target price of $133.58.

About Hess

(Get Rating)

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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