Atria Wealth Solutions Inc. Reduces Stock Position in Hess Co. (NYSE:HES)

Atria Wealth Solutions Inc. cut its stake in Hess Co. (NYSE:HES) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,859 shares of the oil and gas producer’s stock after selling 871 shares during the period. Atria Wealth Solutions Inc.’s holdings in Hess were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HES. Delta Asset Management LLC TN acquired a new stake in shares of Hess in the fourth quarter valued at approximately $26,000. KB Financial Partners LLC acquired a new stake in shares of Hess in the first quarter valued at approximately $26,000. TFC Financial Management Inc. acquired a new stake in shares of Hess in the first quarter valued at approximately $36,000. Massmutual Trust Co. FSB ADV grew its position in shares of Hess by 36.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 279 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 75 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Hess in the fourth quarter valued at approximately $40,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Gregory P. Hill sold 33,414 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $151.33, for a total value of $5,056,540.62. Following the transaction, the chief operating officer now owns 82,932 shares of the company’s stock, valued at approximately $12,550,099.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Gregory P. Hill sold 33,414 shares of Hess stock in a transaction on Monday, July 31st. The shares were sold at an average price of $151.33, for a total transaction of $5,056,540.62. Following the sale, the chief operating officer now owns 82,932 shares of the company’s stock, valued at approximately $12,550,099.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Barbara J. Lowery-Yilmaz sold 24,319 shares of Hess stock in a transaction on Friday, September 1st. The stock was sold at an average price of $156.91, for a total transaction of $3,815,894.29. Following the sale, the senior vice president now directly owns 113,670 shares in the company, valued at approximately $17,835,959.70. The disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of Hess from $175.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com started coverage on shares of Hess in a research report on Thursday, August 17th. They set a “sell” rating on the stock. UBS Group raised their target price on shares of Hess from $168.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Raymond James decreased their target price on shares of Hess from $172.00 to $166.00 and set an “outperform” rating on the stock in a research report on Monday, July 24th. Finally, Piper Sandler decreased their target price on shares of Hess from $168.00 to $164.00 in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.12.

Hess Stock Up 1.4 %

Shares of HES opened at $162.58 on Tuesday. The company’s fifty day moving average is $151.13 and its two-hundred day moving average is $140.54. Hess Co. has a fifty-two week low of $100.34 and a fifty-two week high of $165.43. The company has a quick ratio of 1.43, a current ratio of 1.54 and a debt-to-equity ratio of 0.97. The firm has a market cap of $49.92 billion, a PE ratio of 31.15 and a beta of 1.58.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 26th. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. Hess had a net margin of 14.60% and a return on equity of 19.56%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $2.15 EPS. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. Analysts forecast that Hess Co. will post 4.4 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, September 15th. Hess’s dividend payout ratio is presently 33.52%.

Hess Company 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.