Hess Co. (NYSE:HES) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its position in shares of Hess Co. (NYSE:HES - Free Report) by 10,367.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,643 shares of the oil and gas producer's stock after acquiring an additional 16,484 shares during the quarter. Assetmark Inc.'s holdings in Hess were worth $2,260,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in shares of Hess in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer's stock valued at $43,000 after purchasing an additional 88 shares during the period. Eastern Bank acquired a new position in Hess during the 3rd quarter worth $48,000. Rothschild Investment LLC purchased a new stake in Hess during the 2nd quarter worth about $60,000. Finally, CVA Family Office LLC raised its position in Hess by 31.1% in the 3rd quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer's stock valued at $61,000 after purchasing an additional 107 shares in the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess

In other news, 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 owns 223,147 shares in the company, valued at $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the sale, the chief executive officer now owns 223,147 shares of the company's stock, valued at $31,791,753.09. The trade was a 28.85 % decrease in their ownership of the stock. 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 transaction of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company's stock, valued at $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. 9.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HES. BMO Capital Markets boosted their price objective on Hess from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Wolfe Research upgraded shares of 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. Mizuho reduced their price objective on shares of Hess from $210.00 to $194.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein raised shares of Hess from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company dropped their target price on Hess from $171.00 to $151.00 and set an "equal weight" rating on the stock in a report on Friday, September 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $163.30.

Hess Stock Performance

NYSE HES traded up $2.26 during trading hours on Thursday, hitting $145.06. The company had a trading volume of 1,431,470 shares, compared to its average volume of 2,106,580. The business has a 50 day moving average of $136.09 and a 200-day moving average of $143.18. The company has a market cap of $44.70 billion, a PE ratio of 16.65 and a beta of 1.15. Hess Co. has a 1-year low of $123.79 and a 1-year 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.

Hess (NYSE:HES - Get Free Report) last posted 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. The business had revenue of $3.20 billion during 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 business's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. As a group, equities research analysts expect that Hess Co. will post 9.76 EPS for the current year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. This is a boost from Hess's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess's payout ratio is presently 23.31%.

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.