Truist Financial Corp Decreases Stock Holdings in Hess Co. (NYSE:HES)

Truist Financial Corp trimmed its stake in shares of Hess Co. (NYSE:HES - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 16,380 shares of the oil and gas producer's stock after selling 3,371 shares during the quarter. Truist Financial Corp's holdings in Hess were worth $2,179,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter valued at approximately $27,000. Groupama Asset Managment raised its position in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 4,186 shares during the last quarter. Covestor Ltd boosted its stake in shares of Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Hess during the 3rd quarter worth about $37,000. Finally, LRI Investments LLC lifted its stake 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 buying an additional 217 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Price Performance

Shares of NYSE HES traded up $2.13 during trading hours on Friday, reaching $149.04. 2,402,219 shares of the stock traded hands, compared to its average volume of 1,939,621. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company's 50-day simple moving average is $142.65 and its two-hundred day simple moving average is $139.65. The company has a market capitalization of $45.92 billion, a P/E ratio of 16.56 and a beta of 1.17.

Hess (NYSE:HES - Get Free Report) last released its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Hess's payout ratio is presently 22.22%.

Analyst Upgrades and Downgrades

HES has been the subject of a number of analyst reports. UBS Group lifted 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, February 13th. Pickering Energy Partners upgraded shares of Hess to a "hold" rating in a report on Friday, January 3rd. Wells Fargo & Company raised Hess from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Citigroup lifted their price objective on shares of Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, StockNews.com started coverage on shares of Hess in a report on Sunday. They issued a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $170.60.

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.