Hess Co. (NYSE:HES) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in shares of Hess Co. (NYSE:HES) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,145 shares of the oil and gas producer’s stock after selling 2,005 shares during the period. MetLife Investment Management LLC’s holdings in Hess were worth $10,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HES. Covestor Ltd grew its holdings in shares of Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 98 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the last quarter. Eastern Bank purchased a new position in shares of Hess in the third quarter valued at $48,000. Coastline Trust Co acquired a new position in shares of Hess during the 3rd quarter worth $55,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Hess in the 2nd quarter worth about $60,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Trading Up 0.3 %

HES opened at $146.76 on Friday. The firm’s 50 day moving average is $140.00 and its 200-day moving average is $142.34. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $45.22 billion, a P/E ratio of 17.10 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business posted $1.64 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Analysts expect that Hess Co. will post 9.72 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. Hess’s dividend payout ratio (DPR) is presently 23.31%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HES. UBS Group reduced their price target 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. StockNews.com began coverage on shares of Hess in a research report on Tuesday. They set a “hold” rating on the stock. Susquehanna increased their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets increased 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. Finally, Wells Fargo & Company reduced their price objective 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Hess presently has an average rating of “Hold” and a consensus price target of $163.30.

Insider Activity

In other news, CEO John B. Hess sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. This represents a 36.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s 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 in the company, 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. In the last ninety days, insiders sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by insiders.

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.