Two Sigma Advisers LP Sells 438,400 Shares of Hess Co. (NYSE:HES)

Two Sigma Advisers LP decreased its stake in Hess Co. (NYSE:HES - Free Report) by 48.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,899 shares of the oil and gas producer's stock after selling 438,400 shares during the period. Two Sigma Advisers LP owned 0.15% of Hess worth $61,038,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Hess by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer's stock worth $4,408,117,000 after purchasing an additional 296,406 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Hess by 6.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer's stock valued at $1,521,499,000 after acquiring an additional 698,866 shares during the period. HBK Investments L P raised its holdings in shares of Hess by 1.7% during the 4th quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer's stock worth $962,715,000 after buying an additional 120,091 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer's stock worth $888,240,000 after buying an additional 158,371 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Hess by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer's stock worth $511,325,000 after purchasing an additional 91,131 shares in the last quarter. Institutional investors own 88.51% of the company's stock.

Insider Activity at Hess

In other 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 transaction of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.10% of the stock is currently owned by insiders.

Hess Stock Down 1.6%

HES opened at $132.83 on Tuesday. The company has a market cap of $41.09 billion, a P/E ratio of 14.76 and a beta of 0.61. The business's 50-day moving average price is $139.03 and its 200-day moving average price is $141.40. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Hess Co. has a 12 month low of $123.79 and a 12 month high of $161.69.

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

Hess Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented 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 report on Tuesday, May 13th. UBS Group cut their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. 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. Scotiabank decreased their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Finally, StockNews.com started coverage on Hess in a research report on Tuesday, May 13th. They issued a "hold" rating for the company. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus 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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