Icon Wealth Advisors LLC Sells 464 Shares of Hess Co. (NYSE:HES)

Icon Wealth Advisors LLC cut its stake in shares of Hess Co. (NYSE:HES) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,856 shares of the oil and gas producer’s stock after selling 464 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Hess were worth $388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Drive Wealth Management LLC lifted its holdings in Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after purchasing an additional 72 shares during the last quarter. Quent Capital LLC grew its position in Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after acquiring an additional 73 shares during the last quarter. Versant Capital Management Inc increased its holdings in Hess by 16.9% during the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 78 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its position in Hess by 2.4% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock valued at $444,000 after purchasing an additional 78 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Hess by 4.7% in the second quarter. UMB Bank n.a. now owns 1,771 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Buying and Selling

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction 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 sale, the senior vice president now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at $32,047,849.52. This trade represents a 36.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock valued at $45,856,309 in the last 90 days. 9.76% of the stock is owned by insiders.

Hess Stock Performance

Shares of Hess stock opened at $147.06 on Friday. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The stock has a market capitalization of $45.31 billion, a price-to-earnings ratio of 17.14 and a beta of 1.15. The firm has a fifty day moving average of $140.25 and a two-hundred day moving average of $142.25.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts predict that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 23.31%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup cut their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Mizuho reduced their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Susquehanna boosted their price objective on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com initiated coverage on Hess in a research report on Tuesday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Hess currently has a consensus rating of “Hold” and a consensus price target of $163.30.

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.