Barrow Hanley Mewhinney & Strauss LLC Trims Stake in Hess Co. (NYSE:HES)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in shares of Hess Co. (NYSE:HES - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,334,987 shares of the oil and gas producer's stock after selling 97,262 shares during the period. Hess comprises about 1.5% of Barrow Hanley Mewhinney & Strauss LLC's investment portfolio, making the stock its 24th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.08% of Hess worth $443,587,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of HES. Advisory Alpha LLC lifted its position in shares of Hess by 5.7% during the 4th quarter. Advisory Alpha LLC now owns 2,203 shares of the oil and gas producer's stock valued at $293,000 after buying an additional 118 shares in the last quarter. SG Americas Securities LLC raised its stake in Hess by 441.8% during the 4th quarter. SG Americas Securities LLC now owns 54,831 shares of the oil and gas producer's stock worth $7,293,000 after acquiring an additional 44,710 shares during the period. Wesbanco Bank Inc. purchased a new position in Hess during the fourth quarter valued at approximately $323,000. True North Advisors LLC bought a new position in shares of Hess in the fourth quarter worth approximately $216,000. Finally, CX Institutional boosted its position in shares of Hess by 6.4% in the fourth quarter. CX Institutional now owns 2,135 shares of the oil and gas producer's stock worth $284,000 after purchasing an additional 128 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.10% of the company's stock.

Hess Stock Down 0.2%

Shares of NYSE:HES opened at $129.93 on Friday. The company has a market cap of $40.19 billion, a price-to-earnings ratio of 14.44 and a beta of 0.61. Hess Co. has a 12 month low of $123.79 and a 12 month high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $138.03 and a 200 day moving average price of $141.20.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. Hess's revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.16 earnings per share. As a group, equities research analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, June 16th. Hess's payout ratio is 27.66%.

Analyst Upgrades and Downgrades

HES has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler cut their price target on Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Mizuho lowered their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen initiated coverage on Hess in a research note on Wednesday. They issued a "hold" rating for the company. Finally, Scotiabank decreased their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.16.

Hess 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.

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