BNP Paribas Arbitrage SA Sells 15,325 Shares of Hess Co. (NYSE:HES)

BNP Paribas Arbitrage SA trimmed its stake in shares of Hess Co. (NYSE:HESGet Rating) by 6.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 218,286 shares of the oil and gas producer’s stock after selling 15,325 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Hess were worth $23,125,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. HM Payson & Co. grew its position in shares of Hess by 880.0% in the 1st quarter. HM Payson & Co. now owns 245 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Field & Main Bank purchased a new position in shares of Hess in the 2nd quarter valued at approximately $26,000. Washington Trust Advisors Inc. purchased a new position in shares of Hess in the 1st quarter valued at approximately $28,000. Versant Capital Management Inc purchased a new position in shares of Hess in the 2nd quarter valued at approximately $34,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Hess by 170.6% in the 2nd quarter. Jones Financial Companies Lllp now owns 322 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 203 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the completion of the sale, the senior vice president now owns 29,327 shares of the company’s stock, valued at $4,346,554.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the completion of the sale, the senior vice president now owns 29,327 shares of the company’s stock, valued at $4,346,554.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gregory P. Hill sold 53,851 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.45, for a total value of $7,724,925.95. Following the sale, the chief operating officer now directly owns 78,434 shares of the company’s stock, valued at approximately $11,251,357.30. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Hess in a research note on Wednesday, October 19th. They set a “hold” rating and a $140.00 price objective for the company. Raymond James lifted their price objective on Hess from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, August 31st. Susquehanna lifted their price objective on Hess from $144.00 to $166.00 in a research note on Thursday, October 27th. Piper Sandler lifted their price objective on Hess from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, November 11th. Finally, Wells Fargo & Company lifted their price objective on Hess from $135.00 to $147.00 in a research note on Thursday, October 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.38.

Hess Stock Performance

Shares of HES opened at $144.90 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.66. Hess Co. has a one year low of $68.32 and a one year high of $149.83. The firm has a market capitalization of $44.67 billion, a P/E ratio of 24.11 and a beta of 1.60. The business has a fifty day moving average of $130.60 and a 200 day moving average of $118.86.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, September 16th. Hess’s payout ratio is currently 24.96%.

Hess Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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