Insider Selling: Hess Corp. (NYSE:HES) CEO Sells 14,799 Shares of Stock

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Hess Corp. (NYSE:HES) CEO John B. Hess sold 14,799 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $69.41, for a total value of $1,027,198.59. Following the sale, the chief executive officer now owns 1,355,723 shares of the company’s stock, valued at $94,100,733.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of HES stock traded up $0.86 on Friday, reaching $66.77. The stock had a trading volume of 1,867,865 shares, compared to its average volume of 3,191,973. Hess Corp. has a 1 year low of $35.59 and a 1 year high of $71.06. The company has a 50 day simple moving average of $63.18 and a 200 day simple moving average of $61.99. The stock has a market cap of $19.59 billion, a P/E ratio of -90.23 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a return on equity of 0.46% and a net margin of 1.09%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned ($0.23) EPS. Hess’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Hess Corp. will post -0.44 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.50%. Hess’s dividend payout ratio is presently -135.14%.

Large investors have recently bought and sold shares of the business. Icon Wealth Partners LLC bought a new stake in shares of Hess in the first quarter worth about $25,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Hess in the second quarter worth about $29,000. Commonwealth Bank of Australia increased its holdings in shares of Hess by 45.8% in the second quarter. Commonwealth Bank of Australia now owns 551 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Hess by 79.6% in the second quarter. Coastal Investment Advisors Inc. now owns 573 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 254 shares during the last quarter. Finally, Citizens Financial Group Inc RI bought a new stake in shares of Hess in the first quarter worth about $52,000. 90.10% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on HES. Barclays assumed coverage on Hess in a report on Monday, August 19th. They set an “overweight” rating and a $93.00 target price for the company. Bank of America reissued a “buy” rating and issued a $80.00 target price (up previously from $75.00) on shares of Hess in a research report on Monday, October 7th. Morgan Stanley set a $69.00 target price on Hess and gave the stock a “buy” rating in a research report on Monday, June 24th. Piper Jaffray Companies set a $61.00 target price on Hess and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.08.

Hess Company Profile

Hess Corporation, an exploration and production company, explores for, 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.

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

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