Coastline Trust Co Makes New $55,000 Investment in Hess Co. (NYSE:HES)

Coastline Trust Co bought a new stake in Hess Co. (NYSE:HES) during the 3rd quarter, HoldingsChannel reports. The fund bought 406 shares of the oil and gas producer’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in Hess in the first quarter valued at about $25,000. Covestor Ltd boosted its stake in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 88 shares during the period. Eastern Bank acquired a new position in Hess during the third quarter worth $48,000. Finally, Rothschild Investment LLC purchased a new position in Hess in the second quarter worth $60,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Activity

In related news, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were 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 directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This represents a 28.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.76% of the company’s stock.

Hess Stock Up 0.4 %

HES opened at $145.64 on Friday. The business’s fifty day simple moving average is $136.80 and its 200 day simple moving average is $142.97. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The firm has a market cap of $44.87 billion, a P/E ratio of 16.97 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $1.64 EPS. Hess’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that Hess Co. will post 9.76 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. This is an increase 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%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Citigroup dropped their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. 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 note on Friday, September 27th. Mizuho dropped their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, UBS Group decreased their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.