Barclays PLC Has $118.42 Million Stake in Hess Co. (NYSE:HES)

Barclays PLC lessened its holdings in shares of Hess Co. (NYSE:HES) by 46.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 871,980 shares of the oil and gas producer’s stock after selling 758,866 shares during the period. Barclays PLC’s holdings in Hess were worth $118,415,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment grew its holdings in shares of Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd increased its holdings in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Hess in the 3rd quarter valued at approximately $37,000. Eastern Bank bought a new stake in shares of Hess during the 3rd quarter worth approximately $48,000. Finally, LRI Investments LLC boosted its position in shares of Hess by 157.2% during the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 217 shares in the last quarter. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HES. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research note on Monday, September 30th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $193.00 in a research report on Monday. Citigroup raised their price target on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler dropped their price objective on shares of Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, BMO Capital Markets boosted their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hess has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Insider Activity

In other news, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total value of $18,385,000.00. Following the transaction, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at $32,047,849.52. The trade was a 36.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,370 shares of company stock valued at $45,856,309. 9.76% of the stock is currently owned by insiders.

Hess Stock Up 0.3 %

Shares of NYSE:HES opened at $142.90 on Wednesday. The firm has a market cap of $44.03 billion, a P/E ratio of 16.66 and a beta of 1.17. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The business has a fifty day simple moving average of $141.53 and a 200 day simple moving average of $141.62. 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 issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company earned $1.64 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Analysts predict that Hess Co. will post 9.74 earnings per share for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Hess’s dividend payout ratio (DPR) is currently 23.31%.

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.