Hess Co. (NYSE:HES) Shares Sold by Graypoint LLC

Graypoint LLC cut its holdings in Hess Co. (NYSE:HES) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,108 shares of the oil and gas producer’s stock after selling 133 shares during the quarter. Graypoint LLC’s holdings in Hess were worth $304,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Hess in the third quarter valued at approximately $26,000. KB Financial Partners LLC purchased a new stake in shares of Hess in the first quarter valued at approximately $26,000. Sound Income Strategies LLC purchased a new stake in Hess during the fourth quarter worth $29,000. Larson Financial Group LLC purchased a new stake in Hess during the third quarter worth $30,000. Finally, IMA Wealth Inc. purchased a new stake in Hess during the second quarter worth $30,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the sale, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock worth $22,811,166 over the last three months. 9.93% of the stock is owned by insiders.

Hess Stock Performance

Hess stock opened at $153.21 on Monday. The firm has a market capitalization of $47.20 billion, a P/E ratio of 34.05 and a beta of 1.27. The stock has a fifty day moving average price of $149.28 and a 200 day moving average price of $146.78. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. Equities research analysts anticipate that Hess Co. will post 7.76 earnings per share for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 annualized dividend and a yield of 1.14%. Hess’s dividend payout ratio is presently 38.89%.

Wall Street Analyst Weigh In

HES has been the topic of a number of research analyst reports. StockNews.com assumed coverage on Hess in a research report on Tuesday, April 9th. They set a “sell” rating on the stock. Piper Sandler boosted their price target on Hess from $169.00 to $172.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Susquehanna boosted their price target on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Mizuho boosted their price target on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $176.67.

Hess 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.