Rockefeller Capital Management L.P. Has $1.44 Million Stake in Hess Co. (NYSE:HES)

Rockefeller Capital Management L.P. reduced its holdings in Hess Co. (NYSE:HES) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,565 shares of the oil and gas producer’s stock after selling 871 shares during the period. Rockefeller Capital Management L.P.’s holdings in Hess were worth $1,437,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HES. Cetera Investment Advisers raised its position in shares of Hess by 424.8% during the 1st quarter. Cetera Investment Advisers now owns 19,466 shares of the oil and gas producer’s stock valued at $2,971,000 after acquiring an additional 15,757 shares during the last quarter. Cetera Advisors LLC increased its holdings in Hess by 23.6% in the first quarter. Cetera Advisors LLC now owns 4,415 shares of the oil and gas producer’s stock valued at $674,000 after purchasing an additional 844 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Hess by 116.7% in the second quarter. Park Avenue Securities LLC now owns 3,788 shares of the oil and gas producer’s stock valued at $559,000 after purchasing an additional 2,040 shares during the last quarter. CWM LLC lifted its stake in Hess by 3.6% in the second quarter. CWM LLC now owns 5,643 shares of the oil and gas producer’s stock valued at $833,000 after buying an additional 197 shares during the period. Finally, Simplicity Wealth LLC boosted its holdings in Hess by 3.0% during the second quarter. Simplicity Wealth LLC now owns 5,246 shares of the oil and gas producer’s stock worth $774,000 after buying an additional 151 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Down 2.2 %

HES stock opened at $141.53 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market capitalization of $43.61 billion, a P/E ratio of 16.50 and a beta of 1.17. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The business has a 50-day moving average of $141.39 and a 200-day moving average of $141.74.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share 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 during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. 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 9.74 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, December 16th. Hess’s dividend payout ratio (DPR) is currently 23.31%.

Analyst Ratings Changes

HES has been the topic of a number of analyst reports. Mizuho cut their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Citigroup increased their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday. Scotiabank boosted their price target on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Monday, September 30th. Finally, UBS Group boosted their target price on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Six 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, the company currently has a consensus rating of “Hold” and a consensus target price of $166.30.

Insider Buying and Selling at Hess

In other news, SVP Geurt G. Schoonman sold 6,000 shares of the company’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 transaction of $851,460.00. Following the sale, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. This represents a 17.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,370 shares of company stock worth $45,856,309. Insiders own 9.76% of the company’s stock.

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.