Teachers Retirement System of The State of Kentucky Lowers Holdings in Hess Co. (NYSE:HES)

Teachers Retirement System of The State of Kentucky trimmed its position in Hess Co. (NYSE:HES) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,902 shares of the oil and gas producer’s stock after selling 647 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Hess were worth $3,231,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HES. New Covenant Trust Company N.A. purchased a new stake in shares of Hess in the 1st quarter worth $25,000. Rise Advisors LLC purchased a new stake in shares of Hess in the 1st quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of Hess in the 1st quarter worth $36,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 88 shares during the period. Finally, Mather Group LLC. purchased a new stake in shares of Hess in the 1st quarter worth $52,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HES has been the subject of several recent research reports. BMO Capital Markets lowered Hess to an “overweight” rating and reduced their price target for the stock from $175.00 to $160.00 in a research report on Monday, August 19th. Scotiabank reduced their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Piper Sandler reduced their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Susquehanna reduced their price target on Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Mizuho reduced their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.15.

Hess Stock Up 0.4 %

NYSE:HES opened at $140.87 on Friday. The company has a market cap of $43.40 billion, a PE ratio of 21.57 and a beta of 1.15. Hess Co. has a twelve month low of $123.79 and a twelve month high of $167.75. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $135.48 and its two-hundred day moving average is $146.31.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Analysts anticipate that Hess Co. will post 10.46 EPS for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were 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 dividend yield of 1.42%. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is 30.63%.

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.