Russell Investments Group Ltd. Has $49.80 Million Position in Hess Co. (NYSE:HES)

Russell Investments Group Ltd. decreased its holdings in shares of Hess Co. (NYSE:HES) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,767 shares of the oil and gas producer’s stock after selling 96,740 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Hess worth $49,803,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in Hess during the 3rd quarter valued at $26,000. Larson Financial Group LLC bought a new position in Hess in the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new position in Hess during the 4th quarter valued at about $29,000. Orion Capital Management LLC acquired a new position in Hess in the third quarter valued at approximately $33,000. Finally, Fortis Group Advisors LLC acquired a new position in shares of Hess in the 3rd quarter valued at $46,000. 88.51% of the stock is currently owned by institutional investors.

Insider Transactions at Hess

In related news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO John P. Rielly sold 2,596 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $375,173.92. Following the completion of the sale, the chief financial officer now owns 335,200 shares of the company’s stock, valued at approximately $48,443,104. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho boosted their target price on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com started coverage on Hess in a report on Thursday, April 25th. They set a “sell” rating for the company. Piper Sandler boosted their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Susquehanna raised their price target on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $177.42.

Hess Stock Up 0.4 %

Shares of HES opened at $163.13 on Tuesday. The stock’s 50-day moving average price is $151.67 and its two-hundred day moving average price is $147.21. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $50.26 billion, a PE ratio of 24.98 and a beta of 1.27. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75.

Hess (NYSE:HES) last posted its quarterly earnings data 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. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 36.2% on a year-over-year basis. On average, analysts anticipate that Hess Co. will post 8.58 EPS for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.07%. Hess’s payout ratio is currently 26.80%.

About Hess

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.