HB Wealth Management LLC Has $2.15 Million Stake in Hess Co. (NYSE:HES)

HB Wealth Management LLC lifted its stake in shares of Hess Co. (NYSE:HES) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,160 shares of the oil and gas producer’s stock after acquiring an additional 984 shares during the period. HB Wealth Management LLC’s holdings in Hess were worth $2,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of Hess by 29.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 140,487 shares of the oil and gas producer’s stock worth $20,725,000 after acquiring an additional 32,081 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Hess by 71.3% during the second quarter. Intech Investment Management LLC now owns 22,492 shares of the oil and gas producer’s stock valued at $3,318,000 after acquiring an additional 9,363 shares during the last quarter. Ieq Capital LLC lifted its holdings in Hess by 19.8% during the second quarter. Ieq Capital LLC now owns 12,295 shares of the oil and gas producer’s stock worth $1,814,000 after acquiring an additional 2,035 shares during the period. King Luther Capital Management Corp grew its stake in Hess by 1.8% in the 2nd quarter. King Luther Capital Management Corp now owns 11,354 shares of the oil and gas producer’s stock valued at $1,675,000 after purchasing an additional 198 shares during the period. Finally, AE Wealth Management LLC increased its position in shares of Hess by 7.2% during the 2nd quarter. AE Wealth Management LLC now owns 2,698 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 181 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HES shares. Scotiabank boosted their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Monday, September 30th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. UBS Group upped their price objective on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Susquehanna raised their target price on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Hess has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Hess Stock Performance

NYSE:HES opened at $151.33 on Monday. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The business’s fifty day moving average is $140.66 and its 200 day moving average is $139.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The firm has a market cap of $46.63 billion, a price-to-earnings ratio of 17.64 and a beta of 1.18.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating 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 analysts’ expectations of $2.96 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Research analysts predict that Hess Co. will post 9.51 EPS for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, December 16th. Hess’s payout ratio is 23.31%.

Insider Activity

In other news, CEO John B. Hess sold 92,894 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, 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 completion of 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. Insiders sold 314,370 shares of company stock worth $45,856,309 in the last three months. Corporate insiders own 9.76% of the company’s stock.

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.