Hess Co. (NYSE:HES) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of Hess Co. (NYSE:HES) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the oil and gas producer’s stock after selling 478 shares during the quarter. Fisher Asset Management LLC’s holdings in Hess were worth $399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. boosted its position in Hess by 12.0% during the third quarter. Daiwa Securities Group Inc. now owns 33,878 shares of the oil and gas producer’s stock worth $4,601,000 after purchasing an additional 3,640 shares in the last quarter. Algert Global LLC boosted its position in shares of Hess by 759.5% in the 3rd quarter. Algert Global LLC now owns 25,096 shares of the oil and gas producer’s stock worth $3,408,000 after buying an additional 22,176 shares in the last quarter. Cerity Partners LLC grew its stake in Hess by 10.3% in the 3rd quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer’s stock valued at $2,561,000 after acquiring an additional 1,764 shares during the last quarter. Raymond James Trust N.A. purchased a new position in Hess during the 3rd quarter valued at about $571,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hess by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,376 shares of the oil and gas producer’s stock valued at $238,380,000 after acquiring an additional 43,061 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Up 0.3 %

HES stock opened at $147.18 on Friday. The business has a fifty day simple moving average of $140.25 and a 200-day simple moving average of $142.14. The company has a market cap of $45.35 billion, a price-to-earnings ratio of 17.15 and a beta of 1.15. 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 Co. has a 52 week low of $123.79 and a 52 week high of $163.98.

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, beating the consensus estimate 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 net margin of 20.58% and a return on equity of 27.41%. Hess’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. On average, equities research analysts expect that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is currently 23.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company dropped their price target 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. StockNews.com assumed coverage on Hess in a research report on Tuesday, November 26th. They issued a “hold” rating on the stock. Piper Sandler dropped their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Finally, Wolfe Research raised shares of 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hess presently has a consensus rating of “Hold” and an average price target of $163.30.

Insider Buying and Selling

In related news, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the sale, the chief executive officer now owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now 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 disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock worth $45,856,309 over the last ninety days. 9.76% of the stock is owned by insiders.

About Hess

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.