Mutual of America Capital Management LLC Has $4.90 Million Stake in Hess Co. (NYSE:HES)

Mutual of America Capital Management LLC lowered its position in Hess Co. (NYSE:HES) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,075 shares of the oil and gas producer’s stock after selling 887 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Hess were worth $4,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HES. New Covenant Trust Company N.A. bought a new position in Hess during the first quarter worth about $25,000. Covestor Ltd lifted its position 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 valued at $36,000 after buying an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after acquiring an additional 88 shares during the period. Eastern Bank acquired a new position in shares of Hess during the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co bought a new stake in Hess in the 3rd quarter valued at $55,000. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

Shares of NYSE:HES opened at $147.47 on Thursday. The firm has a 50 day moving average of $137.98 and a 200-day moving average of $142.73. The stock has a market capitalization of $45.44 billion, a PE ratio of 17.19 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. Hess’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. On average, equities research analysts predict that Hess Co. will post 9.72 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. Hess’s dividend payout ratio is 23.31%.

Wall Street Analyst Weigh In

HES has been the topic of several research analyst reports. Susquehanna increased their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Citigroup lowered their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. UBS Group reduced their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Mizuho dropped their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler decreased their price objective on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Hess currently has an average rating of “Hold” and an average target price of $163.30.

Insider Buying and Selling at Hess

In other news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.76% of the company’s stock.

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.