Hess Co. (NYSE:HES) Shares Sold by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. lowered its stake in shares of Hess Co. (NYSE:HESFree Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,800 shares of the oil and gas producer’s stock after selling 5,800 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Hess were worth $38,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 77 shares during the last quarter. Congress Wealth Management LLC DE lifted its stake in Hess by 6.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,616 shares of the oil and gas producer’s stock worth $233,000 after purchasing an additional 99 shares during the last quarter. Founders Capital Management lifted its stake in Hess by 8.3% during the first quarter. Founders Capital Management now owns 1,300 shares of the oil and gas producer’s stock worth $198,000 after purchasing an additional 100 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Hess by 0.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,181 shares of the oil and gas producer’s stock worth $1,612,000 after purchasing an additional 104 shares during the period. Finally, Quent Capital LLC increased its stake in Hess by 13.7% during the fourth quarter. Quent Capital LLC now owns 872 shares of the oil and gas producer’s stock valued at $126,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

Shares of Hess stock traded down $0.49 during trading on Tuesday, hitting $149.88. The stock had a trading volume of 692,687 shares, compared to its average volume of 2,510,014. The business has a fifty day moving average of $152.93 and a two-hundred day moving average of $148.58. Hess Co. has a fifty-two week low of $129.12 and a fifty-two week high of $167.75. The firm has a market cap of $46.18 billion, a P/E ratio of 23.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10.

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

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.17%. Hess’s dividend payout ratio (DPR) is 26.80%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HES. Susquehanna raised their target price on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Citigroup boosted their price target on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. StockNews.com initiated coverage on shares of Hess in a research report on Thursday, June 20th. They issued a “sell” rating on the stock. Piper Sandler raised their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Mizuho raised their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. One equities research 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. According to data from MarketBeat.com, Hess has a consensus rating of “Hold” and a consensus target price of $177.83.

Read Our Latest Stock 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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