Atria Wealth Solutions Inc. reduced its holdings in Hess Co. (NYSE:HES – Free Report) by 31.9% during the first quarter, Holdings Channel reports. The firm owned 1,859 shares of the oil and gas producer’s stock after selling 871 shares during the period. Atria Wealth Solutions Inc.’s holdings in Hess were worth $264,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN acquired a new stake in shares of Hess during the fourth quarter valued at approximately $26,000. KB Financial Partners LLC acquired a new stake in shares of Hess during the first quarter valued at approximately $26,000. TFC Financial Management Inc. acquired a new stake in shares of Hess during the first quarter valued at approximately $36,000. Massmutual Trust Co. FSB ADV grew its position in Hess by 36.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 279 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 75 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in Hess during the fourth quarter valued at approximately $40,000. 81.72% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, COO Gregory P. Hill sold 33,414 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $151.33, for a total transaction of $5,056,540.62. Following the transaction, the chief operating officer now owns 82,932 shares of the company’s stock, valued at $12,550,099.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hess news, COO Gregory P. Hill sold 33,414 shares of Hess stock in a transaction on Monday, July 31st. The shares were sold at an average price of $151.33, for a total transaction of $5,056,540.62. Following the sale, the chief operating officer now owns 82,932 shares in the company, valued at $12,550,099.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Barbara J. Lowery-Yilmaz sold 24,319 shares of Hess stock in a transaction on Friday, September 1st. The stock was sold at an average price of $156.91, for a total transaction of $3,815,894.29. Following the sale, the senior vice president now owns 113,670 shares in the company, valued at approximately $17,835,959.70. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by insiders.
Hess Stock Up 1.4 %
Hess (NYSE:HES – Get Free Report) last announced its earnings results on Wednesday, July 26th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Hess had a net margin of 14.60% and a return on equity of 19.56%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. Hess’s revenue was down 22.4% compared to the same quarter last year. On average, equities analysts predict that Hess Co. will post 4.4 EPS for the current year.
Hess Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, September 15th. Hess’s dividend payout ratio (DPR) is currently 33.52%.
Analysts Set New Price Targets
HES has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Hess in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Susquehanna boosted their price objective on shares of Hess from $183.00 to $187.00 in a research report on Thursday, July 27th. Raymond James lowered their price objective on shares of Hess from $172.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday, July 24th. Citigroup boosted their target price on shares of Hess from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Finally, UBS Group boosted their target price on shares of Hess from $168.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.12.
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.
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