Hess Co. (NYSE:HES) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its stake in shares of Hess Co. (NYSE:HES - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,701 shares of the oil and gas producer's stock after selling 6,368 shares during the period. State of Tennessee Department of Treasury owned 0.06% of Hess worth $22,572,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in Hess in the 4th quarter valued at $25,000. Sierra Ocean LLC purchased a new position in shares of Hess in the fourth quarter worth about $27,000. Millstone Evans Group LLC acquired a new position in Hess during the fourth quarter worth about $33,000. Rialto Wealth Management LLC purchased a new stake in Hess during the 4th quarter valued at about $37,000. Finally, Zions Bancorporation N.A. raised its holdings in Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Performance

Shares of HES stock opened at $130.40 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The firm has a market cap of $40.20 billion, a P/E ratio of 14.49 and a beta of 0.88. The firm's 50 day moving average price is $144.46 and its 200-day moving average price is $142.13. Hess Co. has a one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, equities research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, March 17th. Hess's dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

HES has been the subject of a number of analyst reports. Pickering Energy Partners upgraded Hess to a "hold" rating in a research report on Friday, January 3rd. Susquehanna dropped their target price on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday. UBS Group reduced their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Scotiabank dropped their price objective on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, StockNews.com began coverage on shares of Hess in a research note on Saturday. They set a "hold" rating on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Hess has an average rating of "Hold" and a consensus target price of $164.46.

Insiders Place Their Bets

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.10% of the company's stock.

Hess 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.