Two Sigma Investments LP Reduces Position in Hess Co. (NYSE:HES)

Two Sigma Investments LP cut its position in Hess Co. (NYSE:HES - Free Report) by 94.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,861 shares of the oil and gas producer's stock after selling 121,970 shares during the quarter. Two Sigma Investments LP's holdings in Hess were worth $913,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in Hess during the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter valued at $27,000. Millstone Evans Group LLC purchased a new stake in Hess during the 4th quarter worth about $33,000. Rialto Wealth Management LLC bought a new position in Hess in the 4th quarter worth about $37,000. Finally, Zions Bancorporation N.A. boosted its stake in Hess by 225.6% in 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 period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly 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 filing with the SEC, which is available at this hyperlink. Insiders have sold 650,000 shares of company stock worth $91,845,500 over the last ninety days. Insiders own 9.10% of the company's stock.

Hess Price Performance

NYSE:HES traded up $2.93 during midday trading on Friday, hitting $135.98. The company had a trading volume of 1,989,268 shares, compared to its average volume of 1,799,738. The company has a market capitalization of $42.06 billion, a PE ratio of 15.11 and a beta of 0.62. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess Co. has a 52-week low of $123.79 and a 52-week high of $161.69. The stock's fifty day moving average price is $132.54 and its 200-day moving average price is $140.37.

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

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HES shares. Susquehanna lowered their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lowered their target price on shares of Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Scotiabank reduced their price target 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. Mizuho decreased their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen raised Hess to a "sell" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Hess has a consensus rating of "Hold" and an average price target of $162.16.

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.