175,000 Shares in Hess Co. (NYSE:HES) Acquired by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas bought a new stake in shares of Hess Co. (NYSE:HES) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 175,000 shares of the oil and gas producer’s stock, valued at approximately $23,765,000. Hess comprises approximately 1.2% of Oddo BHF Asset Management Sas’ holdings, making the stock its 19th largest position. Oddo BHF Asset Management Sas owned about 0.06% of Hess at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd grew its stake in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 98 shares during the period. FSA Wealth Management LLC purchased a new position in Hess during the third quarter valued at approximately $37,000. Eastern Bank bought a new position in shares of Hess in the third quarter worth approximately $48,000. LRI Investments LLC increased its stake in shares of Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 217 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Hess during the 3rd quarter valued at $55,000. 88.51% of the stock is currently owned by institutional investors.

Insider Activity at Hess

In other news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,370 shares of company stock worth $45,856,309. Company insiders own 9.76% of the company’s stock.

Hess Price Performance

Hess stock opened at $141.07 on Friday. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a market cap of $43.47 billion, a price-to-earnings ratio of 16.44 and a beta of 1.17. The firm’s fifty day moving average is $141.65 and its 200 day moving average is $141.56. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts forecast that Hess Co. will post 9.74 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, December 16th. Hess’s dividend payout ratio is currently 23.31%.

Analyst Ratings Changes

HES has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $193.00 in a research report on Monday. Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Susquehanna increased their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, StockNews.com began coverage on shares of Hess in a research report on Thursday. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $170.50.

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.