62,115 Shares in Hess Co. (NYSE:HES) Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC acquired a new stake in shares of Hess Co. (NYSE:HES) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 62,115 shares of the oil and gas producer’s stock, valued at approximately $8,435,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of Hess during the first quarter worth $25,000. Covestor Ltd grew its position in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 88 shares during the last quarter. Eastern Bank acquired a new position in shares of Hess in the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Hess in the third quarter worth about $55,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This trade represents a 17.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

Hess Trading Up 0.4 %

HES stock opened at $148.06 on Friday. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The business’s 50-day moving average is $138.39 and its 200 day moving average is $142.77. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. The stock has a market cap of $45.62 billion, a price-to-earnings ratio of 17.26 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings results 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 firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts anticipate that Hess Co. will post 9.72 EPS for the current fiscal year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is 23.31%.

Analysts Set New Price Targets

HES has been the subject of several recent research reports. UBS Group reduced their price target on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their target price on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. StockNews.com began coverage on shares of Hess in a research report on Monday. They set a “hold” rating on the stock. Citigroup decreased their price objective on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler dropped their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Hess 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.