Teacher Retirement System of Texas Sells 23,790 Shares of Hess Co. (NYSE:HES)

Teacher Retirement System of Texas reduced its position in shares of Hess Co. (NYSE:HESFree Report) by 41.3% in the fourth quarter, Holdings Channel reports. The firm owned 33,779 shares of the oil and gas producer’s stock after selling 23,790 shares during the period. Teacher Retirement System of Texas’ holdings in Hess were worth $4,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HES. FMR LLC raised its position in Hess by 2.4% during the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after purchasing an additional 889,122 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Hess by 4.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock worth $1,191,928,000 after acquiring an additional 303,942 shares during the period. Invesco Ltd. boosted its holdings in Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after acquiring an additional 1,105,204 shares in the last quarter. Morgan Stanley increased its position in shares of Hess by 19.9% during the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock valued at $451,572,000 after buying an additional 489,169 shares during the period. Finally, Northern Trust Corp grew its position in shares of Hess by 1.5% in the 3rd quarter. Northern Trust Corp now owns 2,866,681 shares of the oil and gas producer’s stock worth $438,602,000 after buying an additional 42,802 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

NYSE HES opened at $159.61 on Tuesday. The stock has a market cap of $49.18 billion, a price-to-earnings ratio of 24.44 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’s 50 day moving average is $153.65 and its two-hundred day moving average is $147.04. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HESGet Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. As a group, research analysts anticipate that Hess Co. will post 9.17 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.10%. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Susquehanna upped their price target on Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. StockNews.com began coverage on shares of Hess in a report on Saturday. They set a “sell” rating on the stock. Finally, Mizuho boosted their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.83.

View Our Latest Report on Hess

Insider Activity

In other news, CEO John B. Hess sold 73,885 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Hess news, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares in the company, valued at $20,234,794.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now 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. Insiders sold 155,798 shares of company stock valued at $22,811,166 in the last ninety days. Insiders own 9.76% of the company’s stock.

Hess Company 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.

See Also

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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