Retirement Systems of Alabama Sells 169 Shares of Hess Co. (NYSE:HES)

Retirement Systems of Alabama lessened its holdings in Hess Co. (NYSE:HESFree Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,755 shares of the oil and gas producer’s stock after selling 169 shares during the period. Retirement Systems of Alabama’s holdings in Hess were worth $9,274,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HES. Pacific Capital Wealth Advisors Inc. acquired a new position in Hess in the 4th quarter valued at approximately $27,000. Rise Advisors LLC bought a new position in Hess during the 1st quarter worth $27,000. Sound Income Strategies LLC acquired a new position in Hess during the 4th quarter worth about $29,000. Cape Investment Advisory Inc. bought a new stake in shares of Hess in the 4th quarter valued at about $32,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Hess in the third quarter valued at about $33,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HES has been the subject of a number of recent analyst reports. Piper Sandler increased their target price on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. began coverage on shares of Hess in a research note on Friday, June 28th. They set a “hold” rating for the company. Mizuho upped their price target 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. Citigroup lifted their price objective on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Finally, Susquehanna upped their price objective on shares of Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $177.83.

Read Our Latest Report on HES

Hess Stock Down 1.6 %

Shares of Hess stock traded down $2.32 on Friday, hitting $146.88. The company had a trading volume of 1,035,365 shares, compared to its average volume of 2,466,346. Hess Co. has a 1 year low of $129.12 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. The stock has a 50 day moving average of $151.86 and a 200-day moving average of $149.00. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 22.85 and a beta of 1.16.

Hess (NYSE:HESGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. Hess’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, sell-side analysts forecast that Hess Co. will post 10.28 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, June 14th. Hess’s payout ratio is 26.80%.

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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