Investors Purchase High Volume of Put Options on Hess (NYSE:HES)

Hess Co. (NYSE:HES - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors bought 9,770 put options on the company. This represents an increase of approximately 82% compared to the typical volume of 5,371 put options.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HES shares. Susquehanna boosted their target price on shares of Hess from $156.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, April 22nd. StockNews.com started coverage on Hess in a research note on Friday, May 3rd. They issued a "sell" rating for the company. Piper Sandler upped their price target on Hess from $172.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, April 18th. Finally, Mizuho lifted their price objective on Hess from $200.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $177.42.

Insiders Place Their Bets

In related news, COO Gregory P. Hill sold 56,925 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $146.35, for a total value of $8,330,973.75. Following the sale, the chief operating officer now owns 78,287 shares of the company's stock, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Geurt G. Schoonman sold 13,921 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares of the company's stock, valued at approximately $5,073,417.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Gregory P. Hill sold 56,925 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $146.35, for a total value of $8,330,973.75. Following the sale, the chief operating officer now directly owns 78,287 shares of the company's stock, valued at $11,457,302.45. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock worth $22,811,166 over the last quarter. Company insiders own 9.76% of the company's stock.

Institutional Investors Weigh In On Hess

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in Hess during the third quarter worth $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Hess in the 4th quarter valued at about $27,000. Rise Advisors LLC bought a new position in Hess during the first quarter worth about $27,000. Sound Income Strategies LLC acquired a new position in Hess during the fourth quarter worth approximately $29,000. Finally, Larson Financial Group LLC bought a new stake in Hess in the third quarter valued at approximately $30,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Down 0.5 %

Shares of HES stock traded down $0.83 during trading hours on Wednesday, hitting $157.66. 2,400,579 shares of the company were exchanged, compared to its average volume of 2,649,519. The company has a market capitalization of $48.58 billion, a PE ratio of 24.14 and a beta of 1.24. Hess has a 52 week low of $124.27 and a 52 week high of $167.75. The business has a 50 day moving average of $152.88 and a two-hundred day moving average of $146.99. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company's revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. Analysts anticipate that Hess will post 9.17 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, March 15th. Hess's payout ratio is 26.80%.

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.