Graypoint LLC Decreases Stock Holdings in Hess Co. (NYSE:HES)

Graypoint LLC reduced its position in shares of Hess Co. (NYSE:HES) by 21.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,948 shares of the oil and gas producer’s stock after selling 520 shares during the period. Graypoint LLC’s holdings in Hess were worth $265,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. New Covenant Trust Company N.A. purchased a new stake in Hess in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after acquiring an additional 88 shares during the period. Eastern Bank bought a new stake in Hess in the third quarter valued at $48,000. Rothschild Investment LLC purchased a new position in Hess during the 2nd quarter valued at $60,000. Finally, CVA Family Office LLC raised its holdings in Hess by 31.1% in the 3rd quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 107 shares in the last quarter. 88.51% of the stock is owned by institutional investors.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 90,476 shares of the 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 directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HES has been the topic of several research reports. Citigroup cut their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. UBS Group dropped their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank increased their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. Finally, Piper Sandler dropped their price objective on shares of Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $163.30.

Hess Stock Down 0.4 %

Shares of Hess stock opened at $142.18 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The company has a market cap of $43.81 billion, a price-to-earnings ratio of 16.57 and a beta of 1.15. The company’s 50 day moving average is $135.65 and its 200 day moving average is $143.67.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. Hess’s revenue was up 12.7% on a year-over-year basis. Research analysts anticipate that Hess Co. will post 9.76 EPS for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. Hess’s payout ratio is presently 23.31%.

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.