Hess Co. (NYSE:HES) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its holdings in Hess Co. (NYSE:HES) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,321 shares of the oil and gas producer’s stock after selling 1,304 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hess were worth $5,801,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SCP Investment LP lifted its stake in Hess by 100.0% in the 4th quarter. SCP Investment LP now owns 2,800 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 1,400 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Hess in the fourth quarter valued at $281,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Hess by 0.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,181 shares of the oil and gas producer’s stock valued at $1,612,000 after acquiring an additional 104 shares during the last quarter. US Bancorp DE increased its position in Hess by 116.3% during the 4th quarter. US Bancorp DE now owns 39,595 shares of the oil and gas producer’s stock worth $5,708,000 after purchasing an additional 21,290 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Hess by 29.8% in the 4th quarter. Advisory Services Network LLC now owns 2,053 shares of the oil and gas producer’s stock valued at $296,000 after purchasing an additional 471 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Performance

NYSE HES opened at $134.40 on Monday. The business’s 50-day simple moving average is $138.17 and its 200-day simple moving average is $147.03. The firm has a market capitalization of $41.41 billion, a P/E ratio of 20.58 and a beta of 1.15. Hess Co. has a 1-year low of $123.79 and a 1-year high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Hess’s revenue was up 40.3% compared to the same quarter last year. Equities analysts predict that Hess Co. will post 11.04 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, September 16th. Hess’s dividend payout ratio is currently 30.63%.

Analyst Upgrades and Downgrades

HES has been the topic of several analyst reports. Mizuho decreased their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets cut shares of Hess to an “overweight” rating and lowered their target price for the stock from $175.00 to $160.00 in a research note on Monday, August 19th. Citigroup cut their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. UBS Group lowered their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Piper Sandler reduced their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hess has a consensus rating of “Hold” and an average target price of $171.31.

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.