XTX Topco Ltd Decreases Position in Hess Co. (NYSE:HES)

XTX Topco Ltd trimmed its position in shares of Hess Co. (NYSE:HES) by 65.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,419 shares of the oil and gas producer’s stock after selling 6,412 shares during the quarter. XTX Topco Ltd’s holdings in Hess were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Covestor Ltd raised its holdings 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 acquiring an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Hess in the third quarter worth $37,000. Eastern Bank acquired a new position in shares of Hess in the third quarter worth $48,000. Coastline Trust Co acquired a new position in shares of Hess in the third quarter worth $55,000. Finally, Rothschild Investment LLC acquired a new position in shares of Hess in the second quarter worth $60,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Performance

Hess stock opened at $140.20 on Friday. The stock’s 50-day moving average is $141.65 and its 200-day moving average is $141.41. The company has a market cap of $43.20 billion, a price-to-earnings ratio of 16.34 and a beta of 1.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. Equities analysts anticipate that Hess Co. will post 9.74 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Hess’s dividend payout ratio (DPR) is 23.31%.

Insider Activity

In other news, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $147.80, for a total value of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares in the company, valued at approximately $33,914,927. This trade represents a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HES has been the subject of a number of analyst reports. Citigroup boosted their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wolfe Research raised 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. Scotiabank upped their target price on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Mizuho reduced their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Susquehanna increased 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Hess currently has an average rating of “Moderate Buy” and a consensus price target of $170.50.

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.