Public Employees Retirement System of Ohio Lowers Stake in Hess Co. (NYSE:HES)

Public Employees Retirement System of Ohio trimmed its position in shares of Hess Co. (NYSE:HES - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,988 shares of the oil and gas producer's stock after selling 5,495 shares during the period. Public Employees Retirement System of Ohio's holdings in Hess were worth $12,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in HES. J.Safra Asset Management Corp purchased a new stake in Hess during the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new position in shares of Hess during the 4th quarter worth $27,000. Millstone Evans Group LLC purchased a new position in Hess during the 4th quarter valued at about $33,000. Rialto Wealth Management LLC bought a new position in Hess in the fourth quarter worth approximately $37,000. Finally, Zions Bancorporation N.A. lifted its stake in shares of Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on HES shares. Mizuho lowered their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Scotiabank decreased their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Piper Sandler cut their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Susquehanna reduced their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Hess currently has an average rating of "Moderate Buy" and an average price target of $162.16.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.10% of the stock is owned by insiders.

Hess Stock Down 1.3%

Shares of Hess stock traded down $1.71 on Wednesday, reaching $130.87. 1,946,345 shares of the company were exchanged, compared to its average volume of 1,789,113. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The stock's 50 day moving average price is $136.60 and its 200-day moving average price is $140.98. The company has a market cap of $40.48 billion, a P/E ratio of 14.54 and a beta of 0.61. Hess Co. has a 1-year low of $123.79 and a 1-year high of $161.69.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2.95 billion. During the same period last year, the company earned $3.16 earnings per share. The firm's revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Hess Co. will post 8.08 EPS 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 given a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. Hess's payout ratio is currently 27.66%.

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.