Hess Co. (NYSE:HES) CEO John B. Hess Sells 175,000 Shares

Hess Co. (NYSE:HES) CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hess Stock Performance

Shares of NYSE HES opened at $158.48 on Friday. The company has a 50 day simple moving average of $147.78 and a two-hundred day simple moving average of $141.89. The stock has a market cap of $48.86 billion, a price-to-earnings ratio of 17.61 and a beta of 1.21. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. Hess’s payout ratio is 22.22%.

Institutional Trading of Hess

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC boosted its position in Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after purchasing an additional 72 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Hess by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock valued at $528,000 after purchasing an additional 73 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in shares of Hess by 5.3% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 85 shares during the period. Howard Capital Management Inc. boosted its holdings in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 96 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HES. Citigroup upped their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. StockNews.com started coverage on Hess in a research note on Wednesday. They set a “hold” rating on the stock. Finally, UBS Group increased their price objective on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hess currently has an average rating of “Moderate Buy” and an average target price of $170.60.

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.