Point72 Asia Singapore Pte. Ltd. Invests $1.43 Million in Hess Co. (NYSE:HES)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,494 shares of the oil and gas producer's stock, valued at approximately $1,425,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HES. Covestor Ltd boosted its holdings in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock worth $36,000 after buying an additional 98 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 88 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Hess in the third quarter valued at approximately $37,000. Eastern Bank bought a new position in shares of Hess during the third quarter worth approximately $48,000. Finally, Coastline Trust Co acquired a new stake in Hess during the 3rd quarter worth approximately $55,000. 88.51% of the stock is owned by institutional investors.

Insider Transactions at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of Hess 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 transaction, the senior vice president now directly owns 27,581 shares of the company's stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John B. Hess sold 90,476 shares of the business's stock in a transaction that occurred on 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock valued at $45,856,309 in the last quarter. Insiders own 9.76% of the company's stock.

Hess Stock Performance

Shares of HES traded down $1.25 during mid-day trading on Monday, hitting $145.93. The stock had a trading volume of 415,538 shares, compared to its average volume of 2,078,896. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. The firm has a market cap of $44.96 billion, a P/E ratio of 17.15 and a beta of 1.15. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The business has a fifty day moving average price of $140.25 and a 200-day moving average price of $142.04.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. On average, equities research analysts expect that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess's previous quarterly dividend of $0.44. Hess's payout ratio is currently 23.31%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented 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 report on Friday, October 18th. Wells Fargo & Company decreased their price target on Hess from $171.00 to $151.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. Mizuho cut their price objective on shares of Hess from $210.00 to $194.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Citigroup decreased their target price on shares of Hess from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Finally, StockNews.com assumed coverage on shares of Hess in a research report on Tuesday, November 26th. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $163.30.

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.