Coastline Trust Co cut its stake in shares of Hess Co. (NYSE:HES) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,080 shares of the oil and gas producer’s stock after selling 1,080 shares during the quarter. Coastline Trust Co’s holdings in Hess were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its holdings in Hess by 0.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 52,332 shares of the oil and gas producer’s stock valued at $1,743,000 after buying an additional 357 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hess by 0.5% in the first quarter. Victory Capital Management Inc. now owns 131,719 shares of the oil and gas producer’s stock valued at $4,386,000 after purchasing an additional 610 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Hess by 2.9% in the first quarter. APG Asset Management N.V. now owns 1,929,656 shares of the oil and gas producer’s stock valued at $64,258,000 after purchasing an additional 55,047 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Hess by 475.9% in the first quarter. Schroder Investment Management Group now owns 5,022 shares of the oil and gas producer’s stock valued at $177,000 after purchasing an additional 4,150 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Hess by 3.3% in the first quarter. Invesco Ltd. now owns 5,888,093 shares of the oil and gas producer’s stock valued at $196,073,000 after purchasing an additional 187,360 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

In other Hess news, SVP Geurt G. Schoonman sold 4,686 shares of Hess stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.08, for a total value of $253,418.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.22% of the stock is owned by insiders.

A number of analysts recently issued reports on the company. Scotiabank downgraded Hess from a “sector outperform” rating to a “sector perform” rating and set a $55.00 price target for the company. in a research report on Wednesday, September 23rd. Morgan Stanley raised their price target on Hess from $49.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Credit Suisse Group assumed coverage on Hess in a research report on Tuesday, August 4th. They issued a “hold” rating and a $52.00 price target for the company. Raymond James raised their price target on Hess from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Finally, Piper Sandler raised their price target on Hess from $50.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.84.

HES opened at $38.06 on Friday. The business’s 50-day moving average is $42.21 and its two-hundred day moving average is $45.60. Hess Co. has a 1 year low of $26.06 and a 1 year high of $74.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.99 and a quick ratio of 1.76. The firm has a market capitalization of $11.69 billion, a PE ratio of -3.64 and a beta of 2.17.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.09. Hess had a negative return on equity of 8.81% and a negative net margin of 58.62%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $996.22 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was down 50.4% compared to the same quarter last year. As a group, sell-side analysts expect that Hess Co. will post -1.85 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a $0.25 dividend. The ex-dividend date was Monday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.63%. Hess’s dividend payout ratio (DPR) is presently -105.26%.

Hess Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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