Covestor Ltd Has $36,000 Holdings in Hess Co. (NYSE:HES)

Covestor Ltd lifted its position in shares of Hess Co. (NYSE:HES) by 59.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262 shares of the oil and gas producer’s stock after purchasing an additional 98 shares during the quarter. Covestor Ltd’s holdings in Hess were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. boosted its stake in Hess by 6.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,577 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 97 shares in the last quarter. Assetmark Inc. boosted its stake in Hess by 10,367.3% in the 3rd quarter. Assetmark Inc. now owns 16,643 shares of the oil and gas producer’s stock valued at $2,260,000 after buying an additional 16,484 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Hess by 8.5% in the 3rd quarter. Confluence Investment Management LLC now owns 3,862 shares of the oil and gas producer’s stock valued at $524,000 after buying an additional 303 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Hess by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 326,921 shares of the oil and gas producer’s stock valued at $44,396,000 after buying an additional 10,738 shares in the last quarter. Finally, M&G PLC boosted its stake in Hess by 4.6% in the 3rd quarter. M&G PLC now owns 41,090 shares of the oil and gas producer’s stock valued at $5,588,000 after buying an additional 1,812 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. The trade was a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by corporate insiders.

Hess Trading Up 0.4 %

HES stock opened at $145.64 on Friday. The company has a market cap of $44.87 billion, a P/E ratio of 17.02 and a beta of 1.15. Hess Co. has a twelve month low of $123.79 and a twelve month 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. The business has a fifty day moving average of $136.42 and a 200-day moving average of $143.19.

Hess (NYSE:HES) last released its 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 company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 earnings per share. As a group, equities research analysts expect that Hess Co. will post 9.76 EPS for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is currently 23.31%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HES. Citigroup decreased their price target on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company cut their price objective on 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 lifted their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Monday, September 30th. Finally, Mizuho cut their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.30.

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.