Mutual of America Capital Management LLC Sells 1,236 Shares of Hess Co. (NYSE:HES)

Mutual of America Capital Management LLC decreased its position in Hess Co. (NYSE:HES) by 3.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,962 shares of the oil and gas producer’s stock after selling 1,236 shares during the period. Mutual of America Capital Management LLC’s holdings in Hess were worth $5,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HES. Treasurer of the State of North Carolina grew its position in shares of 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 worth $17,781,000 after buying an additional 1,210 shares in the last quarter. TD Asset Management Inc grew 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 worth $14,464,000 after acquiring an additional 12,649 shares in the last quarter. Tidal Investments LLC increased its position in Hess by 59.9% during the 1st quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after purchasing an additional 10,053 shares during the period. Bank of Nova Scotia raised its holdings in shares of Hess by 774.8% in the 4th quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after purchasing an additional 462,953 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in shares of Hess in the 4th quarter worth approximately $2,616,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Up 0.7 %

NYSE:HES opened at $134.40 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. Hess Co. has a twelve month low of $123.79 and a twelve month high of $167.75. The company has a market cap of $41.41 billion, a PE ratio of 20.58 and a beta of 1.15. The company’s 50 day moving average is $138.17 and its two-hundred day moving average is $147.00.

Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 40.3% on a year-over-year basis. Analysts anticipate that Hess Co. will post 11.04 EPS for the current year.

Hess Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Susquehanna cut their price objective on shares of Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Citigroup reduced their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. UBS Group dropped their price objective on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho reduced their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets cut shares of Hess to an “overweight” rating and lowered their price target for the company from $175.00 to $160.00 in a report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.31.

About Hess

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.