Corient Private Wealth LLC Cuts Stake in Hess Co. (NYSE:HES)

Corient Private Wealth LLC lowered its stake in shares of Hess Co. (NYSE:HES) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,305 shares of the oil and gas producer’s stock after selling 2,511 shares during the quarter. Corient Private Wealth LLC’s holdings in Hess were worth $18,512,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HES. Spire Wealth Management boosted its position in Hess by 30.7% during the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 75 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Hess by 33.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 385 shares of the oil and gas producer’s stock worth $59,000 after buying an additional 97 shares during the period. Quent Capital LLC grew its stake in Hess by 13.7% in the 4th quarter. Quent Capital LLC now owns 872 shares of the oil and gas producer’s stock valued at $126,000 after buying an additional 105 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in Hess by 2.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 4,532 shares of the oil and gas producer’s stock valued at $653,000 after acquiring an additional 112 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of Hess by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 13,849 shares of the oil and gas producer’s stock worth $1,996,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock valued at $22,811,166 in the last quarter. 9.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Mizuho increased their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Susquehanna boosted their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Finally, StockNews.com assumed coverage on Hess in a report on Sunday, May 19th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $178.08.

Hess Stock Performance

Hess stock opened at $150.28 on Friday. Hess Co. has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The stock has a market cap of $46.30 billion, a price-to-earnings ratio of 23.01 and a beta of 1.24. The stock’s 50 day simple moving average is $155.33 and its two-hundred day simple moving average is $147.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

Hess (NYSE:HES) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, analysts expect that Hess Co. will post 9.54 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.4375 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.16%. Hess’s dividend payout ratio is currently 26.80%.

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.