Kercheville Advisors LLC Sells 2,177 Shares of Hess Midstream LP (NYSE:HESM)

Kercheville Advisors LLC cut its stake in shares of Hess Midstream LP (NYSE:HESM) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 198,534 shares of the company’s stock after selling 2,177 shares during the quarter. Hess Midstream makes up approximately 3.0% of Kercheville Advisors LLC’s holdings, making the stock its 16th biggest position. Kercheville Advisors LLC owned about 0.09% of Hess Midstream worth $7,002,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in Hess Midstream in the 1st quarter worth approximately $30,000. Clear Point Advisors Inc. purchased a new stake in shares of Hess Midstream during the 1st quarter worth approximately $49,000. Geneos Wealth Management Inc. raised its holdings in shares of Hess Midstream by 31.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Comerica Bank raised its holdings in shares of Hess Midstream by 7.4% during the 1st quarter. Comerica Bank now owns 5,553 shares of the company’s stock worth $201,000 after acquiring an additional 385 shares in the last quarter. Finally, South Street Advisors LLC purchased a new stake in shares of Hess Midstream during the 2nd quarter worth approximately $211,000. 92.41% of the stock is currently owned by institutional investors.

Insider Transactions at Hess Midstream

In other news, Director Infrastructure Investor Global sold 12,650,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $35.12, for a total transaction of $444,268,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hess Midstream Stock Performance

Shares of Hess Midstream stock opened at $35.47 on Monday. The stock’s fifty day moving average is $36.11 and its two-hundred day moving average is $35.97. The company has a market capitalization of $7.83 billion, a PE ratio of 15.42 and a beta of 1.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 8.55. Hess Midstream LP has a 52 week low of $29.20 and a 52 week high of $39.11.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Hess Midstream had a return on equity of 41.91% and a net margin of 11.59%. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $365.16 million. During the same quarter in the prior year, the company posted $0.50 EPS. Hess Midstream’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, analysts expect that Hess Midstream LP will post 2.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on HESM. UBS Group upped their price objective on Hess Midstream from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. increased their price target on Hess Midstream from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st.

About Hess Midstream

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.