Hess Co. (NYSE:HES) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Hess Co. (NYSE:HES) by 48.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,549 shares of the oil and gas producer’s stock after selling 20,965 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Hess were worth $3,442,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in Hess in the first quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Hess during the 4th quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in Hess in the first quarter worth $27,000. Cape Investment Advisory Inc. bought a new stake in Hess in the fourth quarter valued at $32,000. Finally, Riverview Trust Co acquired a new position in shares of Hess during the first quarter valued at $36,000. 88.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on HES. Mizuho lifted their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Piper Sandler increased their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. StockNews.com started coverage on Hess in a research note on Friday, June 28th. They set a “hold” rating on the stock. Citigroup increased their price target on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Finally, Scotiabank reduced their price objective on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $178.58.

Hess Price Performance

HES stock traded down $3.92 on Friday, hitting $137.31. 2,986,131 shares of the company’s stock traded hands, compared to its average volume of 1,784,744. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.78. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 21.03 and a beta of 1.16. Hess Co. has a 1-year low of $131.61 and a 1-year high of $167.75. The stock has a fifty day moving average of $148.21 and a 200-day moving average of $149.68.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. On average, analysts forecast that Hess Co. will post 11.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.27%. Hess’s payout ratio is presently 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.