Hess Co. (NYSE:HES) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its stake in Hess Co. (NYSE:HES - Free Report) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,604 shares of the oil and gas producer's stock after selling 11,849 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Hess worth $23,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. J.Safra Asset Management Corp acquired a new position in shares of Hess during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Hess during the fourth quarter worth $27,000. Millstone Evans Group LLC acquired a new stake in shares of Hess during the fourth quarter worth $33,000. Rialto Wealth Management LLC acquired a new stake in Hess in the fourth quarter worth $37,000. Finally, Zions Bancorporation N.A. grew its holdings in Hess by 225.6% in the fourth 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 period. Institutional investors and hedge funds own 88.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen started coverage on shares of Hess in a research report on Wednesday, May 21st. They set a "hold" rating on the stock. Scotiabank cut 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 report on Friday, April 11th. Susquehanna lowered their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler lowered their price objective on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, UBS Group decreased their price target on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Hess has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is currently owned by company insiders.

Hess Stock Down 1.0%

NYSE:HES traded down $1.30 during midday trading on Friday, reaching $132.32. 3,570,806 shares of the stock traded hands, compared to its average volume of 1,791,178. Hess Co. has a 12-month low of $123.79 and a 12-month high of $161.69. The business has a 50-day moving average of $135.08 and a two-hundred day moving average of $140.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $40.93 billion, a PE ratio of 14.70 and a beta of 0.61.

Hess (NYSE:HES - Get Free Report) last posted its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 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 for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the company earned $3.16 EPS. The company's revenue was down 12.1% on a year-over-year basis. On average, equities analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently declared 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. 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 payout ratio is 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.