Harvest Fund Management Co. Ltd Reduces Stock Holdings in Hess Co. (NYSE:HES)

Harvest Fund Management Co. Ltd decreased its holdings in Hess Co. (NYSE:HES) by 65.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 619 shares of the oil and gas producer’s stock after selling 1,186 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Hess were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Hess in the third quarter worth $26,000. Sound Income Strategies LLC purchased a new stake in Hess in the fourth quarter worth $29,000. Larson Financial Group LLC purchased a new stake in Hess in the third quarter worth $30,000. Orion Capital Management LLC purchased a new stake in Hess in the third quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Hess during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HES shares. Mizuho raised their price objective on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Piper Sandler raised their price objective on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. StockNews.com started coverage on Hess in a research report on Thursday. They set a “sell” rating for the company. Finally, Susquehanna raised their price objective on Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $177.42.

Insider Activity

In related news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. Insiders have sold a total of 155,798 shares of company stock valued at $22,811,166 in the last ninety days. Corporate insiders own 9.76% of the company’s stock.

Hess Trading Up 1.5 %

Hess stock opened at $161.45 on Friday. The business has a 50-day simple moving average of $151.09 and a two-hundred day simple moving average of $147.20. The company has a market cap of $49.74 billion, a P/E ratio of 35.88 and a beta of 1.27. Hess Co. has a 52-week low of $124.27 and a 52-week high of $167.75. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 17.00% and a net margin of 12.98%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm earned $1.13 EPS. The business’s quarterly revenue was up 36.2% on a year-over-year basis. Analysts predict that Hess Co. will post 8.62 EPS for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. Hess’s payout ratio is currently 38.89%.

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.