FineMark National Bank & Trust Cuts Holdings in Hess Co. (NYSE:HES)

FineMark National Bank & Trust trimmed its position in shares of Hess Co. (NYSE:HES) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,170 shares of the oil and gas producer’s stock after selling 3,186 shares during the quarter. FineMark National Bank & Trust’s holdings in Hess were worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in shares of Hess during the third quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Hess in the fourth quarter worth $27,000. Sound Income Strategies LLC purchased a new position in Hess in the fourth quarter worth $29,000. Larson Financial Group LLC purchased a new position in Hess in the third quarter worth $30,000. Finally, Orion Capital Management LLC purchased a new position in Hess in the third quarter worth $33,000. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HES. Mizuho boosted their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Susquehanna upped their price objective on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Piper Sandler upped their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, StockNews.com assumed coverage on shares of Hess in a research note on Sunday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $178.08.

Hess Price Performance

HES traded down $1.03 during midday trading on Thursday, reaching $150.30. 1,536,928 shares of the company’s stock were exchanged, compared to its average volume of 2,584,948. The business’s 50-day moving average price is $155.33 and its 200 day moving average price is $147.61. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10. The stock has a market capitalization of $46.31 billion, a PE ratio of 23.17 and a beta of 1.24. Hess Co. has a 1-year low of $124.27 and a 1-year high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Hess’s revenue for the quarter was up 36.2% on a year-over-year basis. As a group, equities analysts anticipate that Hess Co. will post 9.54 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.4375 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.16%. Hess’s dividend payout ratio is presently 26.80%.

Insider Activity at Hess

In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the sale, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $146.35, for a total value of $8,330,973.75. Following the sale, the chief operating officer now directly owns 78,287 shares in the company, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction dated Thursday, March 7th. The shares were 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 owns 162,144 shares in the company, valued at $23,433,050.88. The disclosure for this sale can be found here. Insiders have sold 155,798 shares of company stock valued at $22,811,166 over the last ninety days. Corporate insiders own 9.76% of the company’s stock.

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.