South Dakota Investment Council Has $30.61 Million Stake in Hess Corporation (NYSE:HES)

South Dakota Investment Council decreased its position in Hess Corporation (NYSE:HES - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,612 shares of the oil and gas producer's stock after selling 26,683 shares during the period. Hess comprises approximately 0.6% of South Dakota Investment Council's holdings, making the stock its 22nd largest holding. South Dakota Investment Council owned 0.06% of Hess worth $30,606,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings in Hess by 106.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 103 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Hess during the 4th quarter valued at $33,000. Wayfinding Financial LLC acquired a new stake in Hess during the 1st quarter valued at $33,000. Zions Bancorporation N.A. increased its holdings in Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 203 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in Hess during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 88.51% of the company's stock.

Insider Activity

In related news, CEO John B. Hess sold 250,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $136.01, for a total value of $34,002,500.00. Following the completion of the sale, the chief executive officer directly owned 1,734,679 shares in the company, valued at approximately $235,933,690.79. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 9.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on HES. Wall Street Zen upgraded Hess from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Scotiabank set a $155.00 price objective on Hess and gave the company a "sector perform" rating in a research report on Friday, July 11th. Wells Fargo & Company decreased their price objective on Hess from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. UBS Group raised their price target on Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Piper Sandler raised their price target on Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $162.78.

Hess Stock Up 7.6%

Shares of HES traded up $11.34 during midday trading on Monday, hitting $160.31. The stock had a trading volume of 104,703 shares, compared to its average volume of 1,863,440. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 0.91. The company has a 50 day simple moving average of $139.83 and a two-hundred day simple moving average of $141.53. The firm has a market cap of $49.59 billion, a price-to-earnings ratio of 22.17 and a beta of 0.62. Hess Corporation has a twelve month low of $123.79 and a twelve month high of $161.69.

Hess (NYSE:HES - Get Free Report) last released 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). The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. Hess's revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. On average, analysts anticipate that Hess Corporation will post 8.08 EPS for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, June 16th. Hess's dividend payout ratio is presently 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.