Sumitomo Mitsui Trust Holdings Inc. Sells 890 Shares of Hess Co. (NYSE:HES)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Hess Co. (NYSE:HES) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 666,906 shares of the oil and gas producer’s stock after selling 890 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Hess worth $101,797,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hess by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after acquiring an additional 8,439 shares during the period. Treasurer of the State of North Carolina raised its holdings in Hess by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock valued at $17,781,000 after buying an additional 1,210 shares during the period. TD Asset Management Inc raised its holdings in Hess by 14.4% during the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after buying an additional 12,649 shares during the period. Alpine Associates Management Inc. purchased a new stake in Hess in the fourth quarter worth $237,100,000. Finally, Arvest Investments Inc. purchased a new stake in Hess in the fourth quarter worth $1,407,000. 88.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HES. Citigroup increased their price target on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Mizuho lifted their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Susquehanna lifted their price target on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. StockNews.com began coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating for the company. Finally, Piper Sandler lifted their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.83.

Hess Stock Performance

Shares of HES stock opened at $149.28 on Thursday. Hess Co. has a 1 year low of $129.12 and a 1 year high of $167.75. The stock has a market cap of $45.99 billion, a PE ratio of 22.86 and a beta of 1.16. The stock has a fifty day moving average price of $152.30 and a 200 day moving average price of $149.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

Hess (NYSE:HES) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 36.2% on a year-over-year basis. Sell-side analysts forecast that Hess Co. will post 10.28 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

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.