Harvest Management LLC Has $13.31 Million Stake in Hess Co. (NYSE:HES)

Harvest Management LLC lifted its position in Hess Co. (NYSE:HES) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,000 shares of the oil and gas producer’s stock after acquiring an additional 1,500 shares during the quarter. Hess accounts for approximately 6.8% of Harvest Management LLC’s investment portfolio, making the stock its 5th largest holding. Harvest Management LLC’s holdings in Hess were worth $13,308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hess in the 1st quarter valued at $275,000. Cetera Investment Advisers boosted its stake in shares of Hess by 424.8% in the first quarter. Cetera Investment Advisers now owns 19,466 shares of the oil and gas producer’s stock worth $2,971,000 after buying an additional 15,757 shares during the last quarter. Cetera Advisors LLC grew its holdings in Hess by 23.6% during the first quarter. Cetera Advisors LLC now owns 4,415 shares of the oil and gas producer’s stock worth $674,000 after acquiring an additional 844 shares during the period. EverSource Wealth Advisors LLC raised its position in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Hess by 27.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the oil and gas producer’s stock valued at $95,000 after acquiring an additional 140 shares during the period. Institutional investors own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the topic of a number of analyst reports. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Monday, September 30th. UBS Group dropped their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Mizuho lowered their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Susquehanna upped their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $163.30.

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. The trade was a 28.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 27,581 shares in the company, valued at $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,370 shares of company stock worth $45,856,309 in the last quarter. Company insiders own 9.76% of the company’s stock.

Hess Stock Down 0.1 %

Shares of NYSE:HES opened at $146.96 on Tuesday. The business has a 50-day moving average price of $140.49 and a 200 day moving average price of $141.97. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a market capitalization of $45.28 billion, a price-to-earnings ratio of 17.13 and a beta of 1.15.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. Hess’s dividend payout ratio (DPR) is currently 23.31%.

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.