Hess Co. (NYSE:HES) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its stake in shares of Hess Co. (NYSE:HES) by 12.5% during the 3rd quarter, Holdings Channel reports. The fund owned 3,648 shares of the oil and gas producer’s stock after purchasing an additional 404 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Hess were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in Hess by 10.4% during the second quarter. Sequoia Financial Advisors LLC now owns 3,867 shares of the oil and gas producer’s stock valued at $570,000 after buying an additional 365 shares during the period. M&G Plc increased its position in shares of Hess by 4.9% in the second quarter. M&G Plc now owns 39,278 shares of the oil and gas producer’s stock valued at $5,813,000 after buying an additional 1,822 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hess by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,064 shares of the oil and gas producer’s stock valued at $895,000 after buying an additional 223 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Hess by 29.5% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,276 shares of the oil and gas producer’s stock valued at $336,000 after acquiring an additional 518 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Hess by 255.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,836 shares of the oil and gas producer’s stock worth $1,008,000 after acquiring an additional 4,911 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess

In other 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 completion of the transaction, the senior vice president now owns 27,581 shares of the company’s stock, 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 can be accessed through the SEC website. Also, CEO John B. Hess sold 92,894 shares of Hess stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the transaction, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 in the last three months. 9.76% of the stock is owned by company insiders.

Hess Price Performance

Shares of HES opened at $142.90 on Wednesday. The firm has a 50-day simple moving average of $141.53 and a two-hundred day simple moving average of $141.62. The stock has a market cap of $44.03 billion, a PE ratio of 16.66 and a beta of 1.17. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share 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 firm 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 earned $1.64 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts forecast that Hess Co. will post 9.74 EPS for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, December 16th. Hess’s payout ratio is 23.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $151.00 to $193.00 in a research note on Monday. BMO Capital Markets increased their target price on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Mizuho cut their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. StockNews.com began coverage on Hess in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, UBS Group upped their target price on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.50.

About Hess

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.