South Dakota Investment Council Has $29.90 Million Holdings in Hess Co. (NYSE:HES)

South Dakota Investment Council decreased its position in Hess Co. (NYSE:HES) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,407 shares of the oil and gas producer’s stock after selling 6,700 shares during the quarter. Hess comprises approximately 0.6% of South Dakota Investment Council’s investment portfolio, making the stock its 17th biggest position. South Dakota Investment Council owned about 0.07% of Hess worth $29,900,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Hess in the third quarter valued at approximately $26,000. Larson Financial Group LLC bought a new position in shares of Hess in the third quarter worth $30,000. Sound Income Strategies LLC acquired a new position in Hess in the fourth quarter valued at about $29,000. Orion Capital Management LLC acquired a new position in Hess in the third quarter valued at about $33,000. Finally, Fortis Group Advisors LLC bought a new stake in Hess during the third quarter worth about $46,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Up 0.5 %

Shares of HES stock traded up $0.75 during trading hours on Tuesday, reaching $156.98. The company had a trading volume of 2,446,318 shares, compared to its average volume of 2,567,498. The company has a market cap of $48.37 billion, a price-to-earnings ratio of 34.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75. The business has a fifty day simple moving average of $150.49 and a 200-day simple moving average of $147.01.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Hess Co. will post 8.32 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, March 15th. Hess’s payout ratio is 38.89%.

Insider Buying and Selling

In related news, COO Gregory P. Hill sold 56,925 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $146.35, for a total value of $8,330,973.75. Following the transaction, the chief operating officer now owns 78,287 shares in the company, valued at $11,457,302.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at approximately $20,234,794.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory P. Hill sold 56,925 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $146.35, for a total value of $8,330,973.75. Following the sale, the chief operating officer now owns 78,287 shares in the company, valued at approximately $11,457,302.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Susquehanna raised their price objective on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday. Mizuho boosted their target price on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, StockNews.com initiated coverage on shares of Hess in a research note on Wednesday, April 17th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.42.

Hess Company Profile

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.