Truist Financial Corp trimmed its position in Hess Co. (NYSE:HES – Free Report) by 39.6% in the fourth quarter, HoldingsChannel reports. The firm owned 14,788 shares of the oil and gas producer’s stock after selling 9,689 shares during the quarter. Truist Financial Corp’s holdings in Hess were worth $2,132,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HES. Syon Capital LLC grew its holdings in shares of Hess by 44.3% in the fourth quarter. Syon Capital LLC now owns 6,941 shares of the oil and gas producer’s stock valued at $1,001,000 after acquiring an additional 2,130 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Hess by 7.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,257 shares of the oil and gas producer’s stock valued at $1,046,000 after purchasing an additional 517 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Hess during the 4th quarter worth $1,947,000. GAMMA Investing LLC purchased a new position in shares of Hess in the 4th quarter worth about $969,000. Finally, Illinois Municipal Retirement Fund grew its position in Hess by 23.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 70,910 shares of the oil and gas producer’s stock valued at $10,222,000 after buying an additional 13,542 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on HES. Susquehanna lifted their price objective on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. StockNews.com started coverage on Hess in a report on Friday, May 3rd. They set a “sell” rating for the company. Piper Sandler increased their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Mizuho boosted their price objective on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $177.42.
Insider Activity
In related news, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by insiders.
Hess Trading Up 1.5 %
Shares of Hess stock opened at $159.95 on Friday. The company’s 50-day moving average price is $153.12 and its 200-day moving average price is $147.07. The company has a market cap of $49.28 billion, a price-to-earnings ratio of 24.49 and a beta of 1.24. Hess Co. has a 12-month low of $124.27 and a 12-month high of $167.75. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81.
Hess (NYSE:HES – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating the consensus estimate of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm earned $1.13 EPS. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. On average, equities analysts expect that Hess Co. will post 9.17 earnings per share for the current fiscal year.
Hess Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 annualized dividend and a dividend yield of 1.09%. Hess’s payout ratio is currently 26.80%.
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.
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Source: defenseworld.net
