UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Hess Co. (NYSE:HES)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Hess Co. (NYSE:HES) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,244,207 shares of the oil and gas producer’s stock after selling 32,153 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hess were worth $304,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Boussard & Gavaudan Investment Management LLP grew its stake in shares of Hess by 38.4% in the third quarter. Boussard & Gavaudan Investment Management LLP now owns 330,110 shares of the oil and gas producer’s stock valued at $44,337,000 after buying an additional 91,654 shares in the last quarter. FORA Capital LLC purchased a new position in Hess in the 3rd quarter worth approximately $915,000. Glenmede Trust Co. NA grew its position in Hess by 37.9% in the third quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer’s stock valued at $336,000 after acquiring an additional 680 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of Hess by 107.2% during the third quarter. Bridgewater Associates LP now owns 86,502 shares of the oil and gas producer’s stock worth $11,747,000 after purchasing an additional 44,746 shares in the last quarter. Finally, Cynosure Group LLC lifted its position in shares of Hess by 5.4% during the third quarter. Cynosure Group LLC now owns 8,164 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 418 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 92,894 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. The trade was a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction 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 owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,370 shares of company stock valued at $45,856,309. 9.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HES has been the topic of several analyst reports. Mizuho dropped their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. StockNews.com assumed coverage on Hess in a research note on Tuesday. They issued a “hold” rating on the stock. BMO Capital Markets raised their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler cut their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Finally, UBS Group decreased their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $163.30.

Hess Trading Up 0.2 %

NYSE HES opened at $147.06 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The company has a 50-day simple moving average of $140.25 and a 200-day simple moving average of $142.25. The firm has a market capitalization of $45.31 billion, a PE ratio of 17.14 and a beta of 1.15.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $1.64 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Hess Co. will post 9.74 earnings per share for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is 23.31%.

Hess 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.