Hess Co. (NYSE:HES) Stock Holdings Decreased by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of Hess Co. (NYSE:HES - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,080 shares of the oil and gas producer's stock after selling 430,210 shares during the period. California State Teachers Retirement System owned 0.11% of Hess worth $44,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBRA Capital Ltd purchased a new stake in Hess during the 4th quarter valued at approximately $14,324,000. Wealth Enhancement Advisory Services LLC grew its stake in Hess by 16.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,927 shares of the oil and gas producer's stock valued at $921,000 after acquiring an additional 986 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new position in shares of Hess during the 4th quarter worth approximately $1,210,000. Aegis Wealth Management LLC purchased a new position in Hess during the fourth quarter worth $214,000. Finally, Siemens Fonds Invest GmbH raised its stake in Hess by 449.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 9,497 shares of the oil and gas producer's stock valued at $1,263,000 after purchasing an additional 7,769 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler reduced their price target on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Mizuho decreased their price objective on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Susquehanna dropped their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen began coverage on shares of Hess in a research note on Wednesday, May 21st. They set a "hold" rating on the stock. Finally, UBS Group cut their target price on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.

Hess Stock Performance

HES traded down $1.30 on Friday, hitting $132.32. 3,570,806 shares of the company's stock were exchanged, compared to its average volume of 1,791,178. 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 stock has a fifty day moving average of $135.08 and a two-hundred day moving average of $140.75. The firm has a market cap of $40.93 billion, a PE ratio of 14.70 and a beta of 0.61. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69.

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

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. Hess's dividend payout ratio is presently 27.66%.

Insider Activity at Hess

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