10,494 Shares in Hess Co. (NYSE:HES) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Hess Co. (NYSE:HES) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 10,494 shares of the oil and gas producer’s stock, valued at approximately $1,425,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Drive Wealth Management LLC grew its stake in Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock worth $678,000 after buying an additional 72 shares during the last quarter. Quent Capital LLC grew its stake in Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 73 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its stake in Hess by 2.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after buying an additional 78 shares during the last quarter. UMB Bank n.a. grew its stake in Hess by 4.7% during the 2nd quarter. UMB Bank n.a. now owns 1,771 shares of the oil and gas producer’s stock worth $261,000 after buying an additional 80 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in Hess by 0.6% during the 2nd quarter. HB Wealth Management LLC now owns 14,629 shares of the oil and gas producer’s stock worth $2,158,000 after buying an additional 87 shares during the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Trading Up 0.3 %

Shares of HES stock opened at $147.18 on Monday. The stock has a 50-day simple moving average of $140.25 and a 200 day simple moving average of $142.04. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The stock has a market capitalization of $45.35 billion, a P/E ratio of 17.15 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 (NYSE:HES) last announced its 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 business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that Hess Co. will post 9.74 earnings per share for the current fiscal year.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.36%. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is currently 23.31%.

Insider Activity at Hess

In related news, CEO John B. Hess sold 125,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total value of $18,385,000.00. Following the completion of the sale, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. This represents a 36.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the sale, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This 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 valued at $45,856,309 over the last 90 days. 9.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HES has been the subject of a number of recent research reports. Citigroup lowered their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company lowered their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. UBS Group decreased their price target on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank increased their price target on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. Finally, Piper Sandler decreased their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $163.30.

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.