US Asset Management LLC Reduces Holdings in Hess Co. (NYSE:HES)

US Asset Management LLC cut its stake in shares of Hess Co. (NYSE:HESFree Report) by 21.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,269 shares of the oil and gas producer’s stock after selling 899 shares during the quarter. US Asset Management LLC’s holdings in Hess were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hess by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after acquiring an additional 8,439 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Hess by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock valued at $17,781,000 after acquiring an additional 1,210 shares during the period. TD Asset Management Inc boosted its holdings in Hess by 14.4% during the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after acquiring an additional 12,649 shares during the period. Alpine Associates Management Inc. purchased a new stake in Hess during the 4th quarter valued at about $237,100,000. Finally, Arvest Investments Inc. bought a new position in Hess during the 4th quarter valued at approximately $1,407,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Up 2.7 %

Shares of HES traded up $3.81 on Thursday, reaching $147.14. The stock had a trading volume of 2,227,949 shares, compared to its average volume of 2,516,094. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. Hess Co. has a 12-month low of $129.12 and a 12-month high of $167.75. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 22.53 and a beta of 1.19. The company has a 50-day simple moving average of $153.09 and a 200-day simple moving average of $148.27.

Hess (NYSE:HESGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Hess’s revenue was up 36.2% compared to the same quarter last year. Sell-side analysts predict that Hess Co. will post 9.99 EPS for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, June 14th. Hess’s payout ratio is currently 26.80%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com assumed coverage on Hess in a research report on Thursday. They set a “sell” rating for the company. Citigroup upped their price target on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Piper Sandler upped their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Susquehanna upped their price target on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Mizuho upped their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. 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 stock. According to MarketBeat.com, Hess has a consensus rating of “Hold” and an average price target of $177.83.

Get Our Latest Report on HES

Hess Profile

(Free Report)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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