Hess Co. (NYSE:HES) Shares Purchased by Boussard & Gavaudan Investment Management LLP

Boussard & Gavaudan Investment Management LLP raised its position in shares of Hess Co. (NYSE:HES) by 38.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,110 shares of the oil and gas producer’s stock after purchasing an additional 91,654 shares during the quarter. Hess accounts for 4.0% of Boussard & Gavaudan Investment Management LLP’s investment portfolio, making the stock its 6th biggest holding. Boussard & Gavaudan Investment Management LLP owned about 0.11% of Hess worth $44,337,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Drive Wealth Management LLC increased its stake in Hess by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after buying an additional 72 shares during the period. Quent Capital LLC lifted its holdings in shares of Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after buying an additional 73 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after buying an additional 78 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its holdings in Hess by 2.4% in the third quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after buying an additional 78 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Hess by 4.7% during the second quarter. UMB Bank n.a. now owns 1,771 shares of the oil and gas producer’s stock valued at $261,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HES. Mizuho decreased their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler dropped their price objective on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Scotiabank increased their target price on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. UBS Group dropped their price target on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets increased their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Hess presently has a consensus rating of “Hold” and an average price target of $163.30.

Hess Stock Up 0.3 %

Shares of HES stock opened at $146.76 on Thursday. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a fifty day moving average price of $139.73 and a 200 day moving average price of $142.31. The stock has a market cap of $45.22 billion, a P/E ratio of 17.10 and a beta of 1.15.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Analysts predict that Hess Co. will post 9.72 earnings per share for the current year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. Hess’s dividend payout ratio (DPR) is currently 23.31%.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 125,000 shares of Hess stock in a transaction 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 trade represents a 36.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction 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. The trade was a 17.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 314,370 shares of company stock valued at $45,856,309. 9.76% of the stock is currently owned by corporate insiders.

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.