Overbrook Management Corp Has $507,000 Holdings in Hess Co. (NYSE:HES)

Overbrook Management Corp cut its holdings in Hess Co. (NYSE:HES) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,730 shares of the oil and gas producer’s stock after selling 265 shares during the period. Overbrook Management Corp’s holdings in Hess were worth $507,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HES. O Shaughnessy Asset Management LLC grew its stake in shares of Hess by 39.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,955 shares of the oil and gas producer’s stock valued at $2,130,000 after acquiring an additional 3,968 shares in the last quarter. K2 Principal Fund L.P. grew its stake in Hess by 11.0% during the first quarter. K2 Principal Fund L.P. now owns 20,149 shares of the oil and gas producer’s stock worth $3,076,000 after buying an additional 2,000 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Hess by 360.6% during the first quarter. Canada Pension Plan Investment Board now owns 369,016 shares of the oil and gas producer’s stock worth $56,327,000 after buying an additional 288,895 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Hess by 3.6% during the first quarter. Gamco Investors INC. ET AL now owns 21,243 shares of the oil and gas producer’s stock worth $3,243,000 after buying an additional 746 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Hess by 8.1% during the first quarter. Gabelli Funds LLC now owns 446,500 shares of the oil and gas producer’s stock worth $68,154,000 after buying an additional 33,400 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HES has been the subject of a number of research reports. UBS Group dropped their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank raised their price objective on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Citigroup dropped their price objective on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company lowered their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Finally, BMO Capital Markets raised their price target on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $163.30.

Hess Stock Performance

Shares of HES stock opened at $147.47 on Thursday. The company has a market cap of $45.44 billion, a price-to-earnings ratio of 17.19 and a beta of 1.15. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. 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 firm has a 50 day moving average of $137.98 and a 200-day moving average of $142.73.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $1.64 EPS. Hess’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Hess Co. will post 9.72 earnings per share for the current year.

Hess Increases Dividend

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

Insiders Place Their Bets

In other news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares in the company, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John B. Hess sold 90,476 shares of the business’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 completion of the sale, the chief executive officer now owns 223,147 shares in the company, valued at $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

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.