Insider Selling: Hess Corp. (HES) COO Sells 8,700 Shares of Stock

Hess Corp. (NYSE:HES) COO Gregory P. Hill sold 8,700 shares of Hess stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $57.93, for a total value of $503,991.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Gregory P. Hill also recently made the following trade(s):

  • On Monday, March 4th, Gregory P. Hill sold 7,134 shares of Hess stock. The stock was sold at an average price of $58.90, for a total value of $420,192.60.
  • On Thursday, February 7th, Gregory P. Hill sold 11,659 shares of Hess stock. The stock was sold at an average price of $53.40, for a total value of $622,590.60.

Shares of Hess stock traded up $0.29 during trading on Friday, reaching $58.25. The stock had a trading volume of 4,247,205 shares, compared to its average volume of 4,333,239. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of -78.72 and a beta of 1.95. Hess Corp. has a 52 week low of $35.59 and a 52 week high of $74.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.91.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.10. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.49 billion. Hess had a negative return on equity of 0.73% and a negative net margin of 2.91%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.01) earnings per share. On average, equities analysts expect that Hess Corp. will post -0.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, March 15th. Hess’s dividend payout ratio is currently -135.14%.

HES has been the topic of several recent analyst reports. Stephens set a $77.00 target price on Hess and gave the stock a “buy” rating in a report on Monday, December 17th. MKM Partners boosted their price target on Hess to $79.00 and gave the company a “buy” rating in a report on Thursday, December 13th. Morgan Stanley cut their price target on Hess from $91.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Bank of America restated a “buy” rating and issued a $85.00 price target on shares of Hess in a report on Tuesday, November 27th. Finally, BMO Capital Markets set a $63.00 price target on Hess and gave the company a “hold” rating in a report on Tuesday, December 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.31.

Several large investors have recently added to or reduced their stakes in HES. Norges Bank acquired a new stake in shares of Hess in the fourth quarter valued at about $106,016,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Hess by 53.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,563,894 shares of the oil and gas producer’s stock valued at $265,837,000 after acquiring an additional 2,284,770 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Hess by 3,900.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,080,934 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Hess by 170.5% in the third quarter. Prudential Financial Inc. now owns 804,189 shares of the oil and gas producer’s stock valued at $57,564,000 after acquiring an additional 506,900 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Hess by 24.2% in the fourth quarter. Millennium Management LLC now owns 1,999,102 shares of the oil and gas producer’s stock valued at $80,964,000 after acquiring an additional 389,268 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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About Hess

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

Further Reading: Depreciation

Insider Buying and Selling by Quarter for Hess (NYSE:HES)

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