Quantinno Capital Management LP Boosts Stock Position in Hess Co. (NYSE:HES)

Quantinno Capital Management LP boosted its holdings in shares of Hess Co. (NYSE:HES) by 33.2% during the third quarter, Holdings Channel.com reports. The firm owned 26,674 shares of the oil and gas producer’s stock after acquiring an additional 6,653 shares during the period. Quantinno Capital Management LP’s holdings in Hess were worth $3,622,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of Hess during the 3rd quarter valued at about $4,400,000. Readystate Asset Management LP raised its position in Hess by 36.0% during the third quarter. Readystate Asset Management LP now owns 529,102 shares of the oil and gas producer’s stock valued at $71,852,000 after purchasing an additional 140,014 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of Hess by 11.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 121,162 shares of the oil and gas producer’s stock valued at $16,454,000 after purchasing an additional 12,020 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Hess by 49,014.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 291,246 shares of the oil and gas producer’s stock worth $39,551,000 after purchasing an additional 290,653 shares during the period. Finally, Maven Securities LTD increased its position in shares of Hess by 646.3% during the 3rd quarter. Maven Securities LTD now owns 77,598 shares of the oil and gas producer’s stock valued at $10,538,000 after purchasing an additional 67,201 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. The trade was a 28.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,370 shares of company stock valued at $45,856,309. Company insiders own 9.76% of the company’s stock.

Hess Stock Down 2.2 %

Shares of NYSE:HES opened at $141.53 on Monday. 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 business’s 50 day moving average is $141.39 and its 200 day moving average is $141.67. The stock has a market cap of $43.61 billion, a P/E ratio of 16.50 and a beta of 1.17. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts predict that Hess Co. will post 9.74 EPS for the current year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. Hess’s payout ratio is presently 23.31%.

Analyst Ratings Changes

A number of analysts recently issued reports on HES shares. BMO Capital Markets raised their price target on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Citigroup raised their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler cut their price target on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Mizuho decreased their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hess has an average rating of “Hold” and an average target price of $166.30.

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.