Segall Bryant & Hamill LLC Acquires Shares of 62,115 Hess Co. (NYSE:HES)

Segall Bryant & Hamill LLC bought a new position in Hess Co. (NYSE:HES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 62,115 shares of the oil and gas producer’s stock, valued at approximately $8,435,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in Hess in the 1st quarter worth $25,000. Covestor Ltd lifted its position in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 88 shares during the last quarter. Eastern Bank purchased a new position in Hess during the 3rd quarter valued at approximately $48,000. Finally, Coastline Trust Co bought a new stake in Hess in the 3rd quarter worth approximately $55,000. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.4 %

Shares of NYSE HES opened at $148.06 on Friday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. 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 company has a market cap of $45.62 billion, a price-to-earnings ratio of 17.26 and a beta of 1.15. The business’s 50 day moving average price is $138.39 and its 200-day moving average price is $142.77.

Hess (NYSE:HES) last released its 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. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. On average, sell-side analysts expect that Hess Co. will post 9.72 earnings per share for the current year.

Hess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Hess’s dividend payout ratio (DPR) is 23.31%.

Analyst Ratings Changes

A number of research firms have recently commented on HES. BMO Capital Markets increased their target price on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company dropped their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Susquehanna upped their target price on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group dropped their price target on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Mizuho decreased their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $163.30.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction dated 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 owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 $31,791,753.09. The trade was a 28.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

Hess Company 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.