Entropy Technologies LP Acquires Shares of 34,571 Hess Co. (NYSE:HES)

Entropy Technologies LP bought a new stake in Hess Co. (NYSE:HES - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,571 shares of the oil and gas producer's stock, valued at approximately $4,695,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New Covenant Trust Company N.A. acquired a new stake in shares of Hess in the 1st quarter valued at $25,000. Covestor Ltd raised its position in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 worth $43,000 after buying an additional 88 shares in the last quarter. Eastern Bank purchased a new position in Hess in the 3rd quarter valued at approximately $48,000. Finally, Rothschild Investment LLC acquired a new position in shares of Hess during the 2nd quarter worth $60,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Down 0.8 %

Shares of HES traded down $1.20 during mid-day trading on Tuesday, hitting $140.79. 1,538,267 shares of the company's stock were exchanged, compared to its average volume of 2,111,352. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.14. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The company has a 50-day simple moving average of $135.73 and a 200 day simple moving average of $143.33. The company has a market cap of $43.38 billion, a PE ratio of 16.41 and a beta of 1.15.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the business earned $1.64 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts forecast that Hess Co. will post 9.76 earnings per share for the current fiscal year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This is an increase from Hess's previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.42%. Hess's dividend payout ratio is 23.31%.

Insider Buying and Selling at Hess

In related 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 value of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares in the company, valued at $31,791,753.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO John B. Hess sold 90,476 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at $31,791,753.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 27,581 shares of the company's stock, valued at approximately $3,914,019.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.76% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HES shares. Susquehanna raised their target price on shares of Hess from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Hess from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, October 4th. 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 research note on Monday, September 16th. UBS Group dropped their target price on shares of Hess from $192.00 to $173.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Finally, StockNews.com assumed coverage on shares of Hess in a research report on Sunday. They issued a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Hess presently has a consensus rating of "Hold" and an average target price of $163.30.

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.