Rockefeller Capital Management L.P. lessened its stake in shares of Hess Corp. (NYSE:HES) by 11.0% during the 1st quarter, HoldingsChannel reports. The fund owned 6,231 shares of the oil and gas producer’s stock after selling 769 shares during the period. Rockefeller Capital Management L.P.’s holdings in Hess were worth $376,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of HES. Icon Wealth Partners LLC bought a new stake in Hess in the first quarter worth $25,000. Lindbrook Capital LLC bought a new position in shares of Hess in the fourth quarter worth about $26,000. Oregon Public Employees Retirement Fund raised its position in Hess by 3,900.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,080,934 shares during the period. Rational Advisors LLC increased its holdings in Hess by 266.5% during the 4th quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 605 shares during the period. Finally, Trustcore Financial Services LLC acquired a new stake in shares of Hess in the 1st quarter worth $35,000. 93.07% of the stock is owned by hedge funds and other institutional investors.
HES has been the subject of several recent analyst reports. ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. MKM Partners reaffirmed a “neutral” rating and set a $71.00 price objective on shares of Hess in a research report on Tuesday, April 16th. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, April 30th. Finally, Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $69.00.
In other Hess news, insider Michael R. Turner sold 18,756 shares of Hess stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $66.52, for a total value of $1,247,649.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew P. Slentz sold 2,081 shares of Hess stock in a transaction on Monday, May 6th. The shares were sold at an average price of $62.52, for a total transaction of $130,104.12. Following the completion of the transaction, the insider now owns 19,119 shares in the company, valued at approximately $1,195,319.88. The disclosure for this sale can be found here. Insiders have sold 109,813 shares of company stock valued at $7,219,253 in the last quarter. Insiders own 12.22% of the company’s stock.
NYSE:HES traded down $0.33 during trading hours on Wednesday, hitting $57.67. The company’s stock had a trading volume of 37,684 shares, compared to its average volume of 3,673,433. The firm has a market capitalization of $17.16 billion, a PE ratio of -78.16 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 1.57. Hess Corp. has a 52-week low of $35.59 and a 52-week high of $74.81.
Hess (NYSE:HES) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.35. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. Hess’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.27) earnings per share. As a group, equities analysts anticipate that Hess Corp. will post 0.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Hess’s dividend payout ratio (DPR) is -135.14%.
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Hess Corporation, an exploration and production company, explores for, 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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