Hess Corp. (HES) Position Reduced by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board lowered its position in Hess Corp. (NYSE:HES) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,703 shares of the oil and gas producer’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in Hess were worth $1,247,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new stake in Hess in the fourth quarter valued at about $26,000. NuWave Investment Management LLC increased its holdings in Hess by 266.5% in the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 605 shares in the last quarter. Rational Advisors LLC increased its holdings in Hess by 266.5% in the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 605 shares in the last quarter. Moody National Bank Trust Division increased its holdings in Hess by 170.0% in the first quarter. Moody National Bank Trust Division now owns 899 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 566 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Hess by 26.2% in the fourth quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.
HES has been the subject of a number of research analyst reports. Morgan Stanley set a $63.00 target price on shares of Hess and gave the company a “buy” rating in a report on Tuesday, January 29th. MKM Partners dropped coverage on shares of Hess in a report on Wednesday, December 26th. Zacks Investment Research raised shares of Hess from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 6th. Barclays raised shares of Hess from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a report on Thursday, January 10th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Hess from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.69.
Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.10. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the company posted ($1.01) EPS. The company’s revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts expect that Hess Corp. will post -0.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. Hess’s dividend payout ratio (DPR) is -135.14%.
In other Hess news, CEO John B. Hess sold 218,220 shares of Hess stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.44, for a total value of $12,098,116.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John B. Hess sold 167,834 shares of Hess stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $52.84, for a total transaction of $8,868,348.56. Following the completion of the sale, the chief executive officer now directly owns 1,871,958 shares of the company’s stock, valued at $98,914,260.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 470,741 shares of company stock valued at $25,677,557. Corporate insiders own 12.09% of the company’s stock.
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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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