LMR Partners LLP Buys 30,675 Shares of Hess Co. (NYSE:HES)

LMR Partners LLP boosted its stake in shares of Hess Co. (NYSE:HES) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,589 shares of the oil and gas producer’s stock after acquiring an additional 30,675 shares during the period. Hess accounts for about 0.3% of LMR Partners LLP’s portfolio, making the stock its 28th biggest position. LMR Partners LLP owned about 0.08% of Hess worth $34,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its holdings in shares of Hess by 39.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,955 shares of the oil and gas producer’s stock worth $2,130,000 after acquiring an additional 3,968 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Hess by 31.7% in the 1st quarter. Clearbridge Investments LLC now owns 909,089 shares of the oil and gas producer’s stock valued at $138,763,000 after purchasing an additional 218,563 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Hess by 300.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 9,986 shares of the oil and gas producer’s stock valued at $1,524,000 after purchasing an additional 7,492 shares in the last quarter. MQS Management LLC acquired a new position in shares of Hess during the 1st quarter worth $933,000. Finally, Carlson Capital L P lifted its position in shares of Hess by 15.6% during the 1st quarter. Carlson Capital L P now owns 633,767 shares of the oil and gas producer’s stock worth $96,738,000 after buying an additional 85,510 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Hess sold 90,476 shares of Hess 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 sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

Hess Trading Up 0.4 %

HES opened at $145.64 on Monday. The stock has a market cap of $44.87 billion, a PE ratio of 16.97 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 twelve month low of $123.79 and a twelve month high of $163.98. The company has a fifty day moving average of $136.80 and a 200-day moving average of $142.87.

Hess (NYSE:HES) last issued 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 period last year, the business posted $1.64 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Hess Co. will post 9.72 EPS for the current year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is presently 23.31%.

Analysts Set New Price Targets

HES has been the subject of several research analyst reports. BMO Capital Markets boosted their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Susquehanna upped their price objective on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group cut their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Monday, September 30th. Finally, Piper Sandler cut their price objective on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.30.

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.