Kestra Private Wealth Services LLC Sells 574 Shares of Hess Co. (NYSE:HES)

Kestra Private Wealth Services LLC reduced its stake in Hess Co. (NYSE:HES) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,343 shares of the oil and gas producer’s stock after selling 574 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Hess were worth $2,068,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Hess during the 3rd quarter worth about $26,000. Sound Income Strategies LLC bought a new position in Hess during the fourth quarter worth $29,000. Larson Financial Group LLC acquired a new position in Hess during the 3rd quarter valued at $30,000. Orion Capital Management LLC bought a new stake in Hess in the 3rd quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Hess in the 4th quarter worth $45,000. 88.51% of the stock is owned by institutional investors.

Insider Activity

In other Hess news, CEO John B. Hess sold 73,885 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hess news, CEO John B. Hess sold 73,885 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the sale, the chief executive officer now owns 138,718 shares in the company, valued at approximately $20,234,794.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $146.35, for a total transaction of $8,330,973.75. Following the transaction, the chief operating officer now directly owns 78,287 shares in the company, valued at approximately $11,457,302.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Hess in a research note on Thursday, April 25th. They issued a “sell” rating for the company. Mizuho boosted their price objective on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Piper Sandler raised their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Susquehanna boosted their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $177.42.

Hess Trading Down 0.5 %

Shares of HES stock opened at $156.77 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $48.30 billion, a P/E ratio of 24.01 and a beta of 1.27. Hess Co. has a 12-month low of $124.27 and a 12-month high of $167.75. The firm has a 50-day moving average price of $152.05 and a 200 day moving average price of $147.25.

Hess (NYSE:HES) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $1.13 EPS. Hess’s revenue was up 36.2% compared to the same quarter last year. Research analysts forecast that Hess Co. will post 8.33 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.12%. Hess’s dividend payout ratio (DPR) is presently 26.80%.

About Hess

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.