Public Sector Pension Investment Board lessened its position in shares of Hess Co. (NYSE:HES – Get Rating) by 30.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,647 shares of the oil and gas producer’s stock after selling 11,907 shares during the period. Public Sector Pension Investment Board’s holdings in Hess were worth $2,823,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HM Payson & Co. grew its holdings in Hess by 880.0% during the 1st quarter. HM Payson & Co. now owns 245 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Field & Main Bank acquired a new position in Hess during the 2nd quarter worth approximately $26,000. Washington Trust Advisors Inc. acquired a new position in Hess during the 1st quarter worth approximately $28,000. Versant Capital Management Inc purchased a new stake in shares of Hess during the 2nd quarter worth approximately $34,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Hess by 170.6% during the 2nd quarter. Jones Financial Companies Lllp now owns 322 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on HES. Barclays reduced their price objective on shares of Hess from $146.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Citigroup upped their price target on shares of Hess from $130.00 to $155.00 in a research report on Tuesday, November 22nd. Piper Sandler upped their price target on shares of Hess from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, November 11th. Mizuho upped their price target on shares of Hess from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 24th. Finally, Raymond James upped their price target on shares of Hess from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, August 31st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.38.
Insider Activity at Hess
In related news, SVP Andrew P. Slentz sold 37,419 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $148.21, for a total value of $5,545,869.99. Following the sale, the senior vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $4,346,554.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hess news, COO Gregory P. Hill sold 53,851 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.45, for a total value of $7,724,925.95. Following the transaction, the chief operating officer now directly owns 78,434 shares in the company, valued at approximately $11,251,357.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew P. Slentz sold 37,419 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the transaction, the senior vice president now owns 29,327 shares in the company, valued at $4,346,554.67. The disclosure for this sale can be found here. 9.93% of the stock is owned by corporate insiders.
Hess Stock Performance
NYSE:HES opened at $144.76 on Monday. The company has a quick ratio of 1.66, a current ratio of 1.78 and a debt-to-equity ratio of 1.04. Hess Co. has a fifty-two week low of $68.32 and a fifty-two week high of $149.83. The stock has a market cap of $44.63 billion, a PE ratio of 24.09 and a beta of 1.60. The firm’s fifty day simple moving average is $131.80 and its 200-day simple moving average is $119.65.
Hess Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a $0.375 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a yield of 1.04%. Hess’s payout ratio is 24.96%.
Hess Company Profile
(Get Rating)
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.
Featured Stories
Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Co. (NYSE:HES – Get Rating).
Receive News & Ratings for Hess Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hess and related companies with MarketBeat.com’s FREE daily email newsletter.
