Hess Co. (NYSE:HES) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. decreased its holdings in Hess Co. (NYSE:HES) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 14,733 shares of the oil and gas producer’s stock after selling 442 shares during the period. Brown Advisory Inc.’s holdings in Hess were worth $2,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HES. NBC Securities Inc. acquired a new stake in Hess in the third quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Hess during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC acquired a new position in Hess during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC purchased a new position in shares of Hess in the third quarter worth $30,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Hess during the third quarter worth $33,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

NYSE:HES opened at $150.28 on Friday. The company has a 50 day moving average price of $155.33 and a 200-day moving average price of $147.63. Hess Co. has a 1-year low of $124.27 and a 1-year high of $167.75. The firm has a market cap of $46.30 billion, a price-to-earnings ratio of 23.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10.

Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s revenue was up 36.2% compared to the same quarter last year. Equities research analysts forecast that Hess Co. will post 9.54 EPS for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, June 14th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HES. Piper Sandler upped their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Susquehanna raised their price objective on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. StockNews.com initiated coverage on Hess in a research report on Sunday, May 19th. They issued a “sell” rating on the stock. Finally, Mizuho raised their price target on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Hess has an average rating of “Hold” and an average target price of $178.08.

Insider Transactions at Hess

In related news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the sale, the executive vice president now owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Timothy B. Goodell sold 2,701 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the transaction, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock valued at $22,811,166 in the last three months. 9.76% of the stock is currently owned by company 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.