Hess Co. (NYSE:HES) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC lowered its holdings in Hess Co. (NYSE:HES) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 464 shares of the oil and gas producer’s stock after selling 100 shares during the quarter. Global Trust Asset Management LLC’s holdings in Hess were worth $62,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment lifted its stake in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares during the period. Covestor Ltd lifted its position in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 98 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Hess during the 3rd quarter worth approximately $37,000. Eastern Bank acquired a new stake in shares of Hess in the 3rd quarter worth approximately $48,000. Finally, LRI Investments LLC increased its stake in Hess by 157.2% in the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 217 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

HES stock opened at $145.39 on Thursday. The stock has a market capitalization of $44.80 billion, a price-to-earnings ratio of 16.95 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The stock’s fifty day simple moving average is $141.00 and its 200-day simple moving average is $139.47.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company earned $1.64 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Hess Co. will post 9.49 EPS for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio (DPR) is 23.31%.

Analyst Ratings Changes

Several analysts have weighed in on HES shares. StockNews.com initiated coverage on Hess in a report on Tuesday. They issued a “hold” rating on the stock. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Monday, September 30th. Scotiabank upped their price target 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 raised their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets lifted their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess has an average rating of “Moderate Buy” and an average price target of $170.50.

Insiders Place Their Bets

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John B. Hess sold 92,894 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. This represents a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,370 shares of company stock valued at $45,856,309 over the last quarter. Company insiders own 9.76% of the company’s stock.

Hess 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.