USS Investment Management Ltd Invests $6.36 Million in Hess Co. (NYSE:HES)

USS Investment Management Ltd bought a new position in shares of Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,829 shares of the oil and gas producer's stock, valued at approximately $6,361,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp purchased a new position in shares of Hess during the fourth quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Hess during the fourth quarter worth about $27,000. Millstone Evans Group LLC acquired a new stake in shares of Hess during the fourth quarter worth about $33,000. Rialto Wealth Management LLC acquired a new position in Hess in the 4th quarter valued at about $37,000. Finally, Zions Bancorporation N.A. raised its stake 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 acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of NYSE HES traded up $0.96 during midday trading on Tuesday, hitting $132.32. The company had a trading volume of 1,666,732 shares, compared to its average volume of 1,942,482. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of 14.70 and a beta of 0.61. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69. The business has a 50-day simple moving average of $137.10 and a two-hundred day simple moving average of $141.04. 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 (NYSE:HES - Get Free Report) last issued 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 company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the business posted $3.16 earnings per share. The company's quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts anticipate that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

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

Insiders Place Their Bets

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 value of $27,877,500.00. Following the sale, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Susquehanna cut their price target on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen initiated coverage on shares of Hess in a research report on Wednesday, May 21st. They set a "hold" rating for the company. Scotiabank reduced 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. Mizuho lowered their target price 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, 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.16.

Hess Company 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.