Hess Co. (NYSE:HES) CEO Sells $29,965,500.00 in Stock

Hess Co. (NYSE:HES - Get Free Report) CEO John B. Hess sold 225,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $133.18, for a total value of $29,965,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,984,679 shares of the company's stock, valued at approximately $264,319,549.22. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Hess Price Performance

NYSE HES traded up $2.93 on Friday, hitting $135.98. 1,989,170 shares of the company were exchanged, compared to its average volume of 1,794,889. Hess Co. has a 1-year low of $123.79 and a 1-year high of $161.69. The firm has a 50 day moving average of $133.05 and a two-hundred day moving average of $140.49. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market cap of $42.06 billion, a P/E ratio of 15.11 and a beta of 0.62.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. Hess's revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio is 27.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Hess in the fourth quarter valued at about $3,117,000. Charles Schwab Investment Management Inc. lifted its position in Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after purchasing an additional 82,703 shares during the period. CIBC Asset Management Inc lifted its position in Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after purchasing an additional 1,861 shares during the period. American Century Companies Inc. boosted its stake in shares of Hess by 14.7% in the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock valued at $44,300,000 after purchasing an additional 42,797 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Hess by 34.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 19,235 shares of the oil and gas producer's stock worth $2,558,000 after buying an additional 4,891 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on HES shares. UBS Group lowered their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Scotiabank reduced their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Wall Street Zen began coverage on shares of Hess in a report on Wednesday, May 21st. They issued a "hold" rating on the stock. Susquehanna cut their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho reduced their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.

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.

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