Allspring Global Investments Holdings LLC Raises Holdings in Hess Co. (NYSE:HES)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Hess Co. (NYSE:HESGet Rating) by 52.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,611 shares of the oil and gas producer’s stock after buying an additional 8,781 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hess were worth $2,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of Hess by 280.0% in the 3rd quarter. Private Trust Co. NA now owns 228 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 168 shares during the period. Field & Main Bank acquired a new stake in shares of Hess in the 2nd quarter worth approximately $26,000. Versant Capital Management Inc acquired a new stake in shares of Hess in the 2nd quarter worth approximately $34,000. Jones Financial Companies Lllp grew its holdings in shares of Hess by 170.6% in the 2nd quarter. Jones Financial Companies Lllp now owns 322 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 203 shares during the period. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Hess in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Hess Trading Down 0.6 %

Shares of HES opened at $150.76 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.66 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $46.48 billion, a P/E ratio of 25.08 and a beta of 1.55. The stock’s fifty day simple moving average is $141.69 and its 200 day simple moving average is $126.18. Hess Co. has a twelve month low of $83.56 and a twelve month high of $156.98.

Hess (NYSE:HESGet Rating) last issued its earnings results on Wednesday, October 26th. The oil and gas producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.01. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $2.94 billion. Hess had a return on equity of 25.57% and a net margin of 17.31%. On average, equities research analysts forecast that Hess Co. will post 7.09 earnings per share for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Monday, December 19th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, December 16th. Hess’s dividend payout ratio (DPR) is currently 24.96%.

Insider Buying and Selling

In related news, COO Gregory P. Hill sold 53,851 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $143.45, for a total value of $7,724,925.95. Following the transaction, the chief operating officer now directly owns 78,434 shares of the company’s stock, valued at approximately $11,251,357.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Hess news, COO Gregory P. Hill sold 53,851 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $143.45, for a total value of $7,724,925.95. Following the transaction, the chief operating officer now directly owns 78,434 shares of the company’s stock, valued at $11,251,357.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew P. Slentz sold 37,419 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $148.21, for a total value of $5,545,869.99. Following the completion of the transaction, the senior vice president now directly owns 29,327 shares in the company, valued at $4,346,554.67. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Hess from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, December 7th. Mizuho cut Hess from a “buy” rating to a “neutral” rating and increased their target price for the company from $150.00 to $164.00 in a report on Tuesday, January 10th. JPMorgan Chase & Co. lowered their target price on Hess from $155.00 to $153.00 in a report on Monday, January 9th. Piper Sandler lowered their target price on Hess from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Finally, Susquehanna increased their target price on Hess from $144.00 to $166.00 in a report on Thursday, October 27th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average target price of $150.64.

About Hess

(Get Rating)

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.

See Also

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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