JustInvest LLC cut its position in shares of Hess Co. (NYSE:HES) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,833 shares of the oil and gas producer’s stock after selling 722 shares during the quarter. JustInvest LLC’s holdings in Hess were worth $378,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of HES. Moors & Cabot Inc. acquired a new position in shares of Hess in the 3rd quarter worth $27,000. Covington Capital Management acquired a new position in shares of Hess in the 2nd quarter worth $33,000. Canton Hathaway LLC acquired a new position in shares of Hess in the 3rd quarter worth $37,000. Ninety One SA PTY Ltd grew its holdings in shares of Hess by 31.2% in the 3rd quarter. Ninety One SA PTY Ltd now owns 648 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 154 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Hess by 519.9% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 967 shares of the oil and gas producer’s stock worth $84,000 after acquiring an additional 811 shares during the last quarter. Institutional investors own 82.27% of the company’s stock.
A number of equities analysts recently issued reports on HES shares. Barclays decreased their target price on Hess from $106.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup decreased their target price on Hess from $92.00 to $89.00 in a research report on Monday, January 3rd. TheStreet cut Hess from a “b-” rating to a “c+” rating in a research report on Wednesday, December 1st. Mizuho raised their target price on Hess from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, November 30th. Finally, Raymond James raised their target price on Hess from $95.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Hess presently has an average rating of “Buy” and an average target price of $102.00.
Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 27th. The oil and gas producer reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.11). Hess had a net margin of 2.92% and a return on equity of 3.66%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted ($0.71) earnings per share. The company’s revenue for the quarter was up 54.0% on a year-over-year basis. Equities research analysts expect that Hess Co. will post 2.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Shareholders of record on Wednesday, December 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, December 14th. Hess’s dividend payout ratio is 158.73%.
In other Hess news, COO Gregory P. Hill sold 3,600 shares of the company’s stock in a transaction on Wednesday, December 8th. The shares were sold at an average price of $81.35, for a total transaction of $292,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.22% of the stock is currently owned by corporate insiders.
Hess Company Profile
Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.
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