Hess Co. (NYSE:HES) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Hess Co. (NYSE:HES - Free Report) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 623,902 shares of the oil and gas producer's stock after selling 45,567 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Hess worth $82,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its holdings in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd grew its stake in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 98 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Hess during the third quarter worth $37,000. Eastern Bank acquired a new stake in shares of Hess in the third quarter valued at $48,000. Finally, LRI Investments LLC boosted its holdings in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer's stock valued at $51,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Up 0.7 %

Shares of Hess stock traded up $1.01 during trading hours on Thursday, hitting $145.81. The company had a trading volume of 1,360,023 shares, compared to its average volume of 1,996,618. The company's 50-day moving average is $140.22 and its two-hundred day moving average is $138.90. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The company has a market cap of $44.93 billion, a P/E ratio of 16.20 and a beta of 1.17.

Remove Ads

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Analysts anticipate that Hess Co. will post 7.69 earnings per share for the current fiscal year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Monday, December 16th. Hess's dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

Several brokerages have weighed in on HES. Pickering Energy Partners upgraded Hess to a "hold" rating in a report on Friday, January 3rd. Wells Fargo & Company upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Susquehanna lifted their price target on shares of Hess from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. StockNews.com assumed coverage on shares of Hess in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, UBS Group raised their price objective on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $170.60.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 92,894 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the completion of the sale, the chief executive officer now directly owns 229,465 shares of the company's stock, valued at approximately $33,914,927. This represents a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.76% of the stock is owned by company insiders.

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.