Hess Co. (NYSE:HES) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in Hess Co. (NYSE:HES) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,837 shares of the oil and gas producer’s stock after selling 870 shares during the quarter. King Luther Capital Management Corp’s holdings in Hess were worth $1,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HES. NBC Securities Inc. acquired a new stake in shares of Hess during the 3rd quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Hess during the 4th quarter worth about $27,000. Sound Income Strategies LLC purchased a new position in Hess during the 4th quarter valued at about $29,000. Larson Financial Group LLC purchased a new position in Hess during the 3rd quarter valued at about $30,000. Finally, Orion Capital Management LLC purchased a new position in Hess during the 3rd quarter valued at about $33,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Performance

NYSE HES traded up $1.40 on Friday, reaching $151.68. The stock had a trading volume of 350,868 shares, compared to its average volume of 2,569,469. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. Hess Co. has a 12-month low of $124.27 and a 12-month high of $167.75. The business’s 50-day moving average price is $155.33 and its 200 day moving average price is $147.63. The stock has a market cap of $46.73 billion, a P/E ratio of 23.01 and a beta of 1.24.

Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s revenue for the quarter was up 36.2% on a year-over-year basis. As a group, equities analysts expect that Hess Co. will post 9.54 earnings per share for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, June 14th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Insider Transactions at Hess

In other news, EVP Timothy B. Goodell sold 2,701 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the sale, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John B. Hess sold 73,885 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy B. Goodell sold 2,701 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $390,348.52. Following the completion of the sale, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock worth $22,811,166 over the last 90 days. 9.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com assumed coverage on Hess in a report on Sunday, May 19th. They set a “sell” rating for the company. Susquehanna boosted their price objective on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Piper Sandler boosted their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho boosted their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $178.08.

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.