Greenleaf Trust Purchases 246 Shares of Hess Co. (NYSE:HES)

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust increased its position in Hess Co. (NYSE:HES – Get Rating) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,030 shares of the oil and gas producer’s stock after purchasing an additional 246 shares during the quarter. Greenleaf Trust’s holdings in Hess were worth $430,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Trust N.A. acquired a new position in Hess in the 1st quarter valued at about $446,000. Blair William & Co. IL grew its position in shares of Hess by 17.1% during the 1st quarter. Blair William & Co. IL now owns 4,276 shares of the oil and gas producer’s stock worth $458,000 after purchasing an additional 625 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Hess by 3.7% during the 1st quarter. Allianz Asset Management GmbH now owns 114,120 shares of the oil and gas producer’s stock worth $12,216,000 after purchasing an additional 4,027 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Hess during the 1st quarter worth approximately $410,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Hess by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock worth $3,310,590,000 after acquiring an additional 667,979 shares during the period. 86.06% of the stock is owned by institutional investors.

Insider Activity at Hess

In related news, SVP Andrew P. Slentz sold 5,701 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $139.46, for a total transaction of $795,061.46. Following the sale, the senior vice president now owns 39,264 shares of the company’s stock, valued at approximately $5,475,757.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Andrew P. Slentz sold 5,701 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $139.46, for a total transaction of $795,061.46. Following the sale, the senior vice president now owns 39,264 shares of the company’s stock, valued at approximately $5,475,757.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 7,500 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $132.40, for a total transaction of $993,000.00. Following the completion of the transaction, the chief operating officer now directly owns 116,346 shares in the company, valued at approximately $15,404,210.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,220 shares of company stock worth $33,298,936. 9.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler cut their price target on shares of Hess from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Susquehanna upped their price target on shares of Hess from $179.00 to $185.00 in a report on Thursday, January 26th. Barclays upped their price target on shares of Hess from $160.00 to $174.00 in a report on Thursday, March 16th. Raymond James dropped their price objective on shares of Hess from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, March 10th. Finally, Morgan Stanley increased their price objective on shares of Hess from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hess presently has a consensus rating of “Moderate Buy” and an average target price of $165.93.

Hess Trading Down 0.9 %

NYSE:HES opened at $140.88 on Friday. Hess Co. has a one year low of $90.34 and a one year high of $160.52. The company has a market cap of $43.13 billion, a PE ratio of 19.59 and a beta of 1.56. The firm has a 50-day moving average of $135.75 and a 200-day moving average of $136.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.64 and a quick ratio of 1.55.

Hess (NYSE:HES – Get Rating) last released its earnings results on Wednesday, January 25th. The oil and gas producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.09. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Hess had a net margin of 19.21% and a return on equity of 27.97%. The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, equities research analysts expect that Hess Co. will post 6.29 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Monday, March 13th were paid a $0.438 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.24%. This is a boost from Hess’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, March 10th. Hess’s payout ratio is presently 24.34%.

About Hess

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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.