Levin Capital Strategies L.P. Sells 52,163 Shares of Hess Co. (NYSE:HES)

Levin Capital Strategies L.P. lowered its stake in shares of Hess Co. (NYSE:HES) by 73.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,808 shares of the oil and gas producer’s stock after selling 52,163 shares during the period. Levin Capital Strategies L.P.’s holdings in Hess were worth $2,711,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Hess in the third quarter worth about $26,000. Sound Income Strategies LLC bought a new position in shares of Hess in the fourth quarter worth approximately $29,000. Larson Financial Group LLC bought a new position in shares of Hess in the third quarter worth approximately $30,000. Orion Capital Management LLC bought a new position in shares of Hess in the third quarter worth approximately $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Hess during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Activity at Hess

In other news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction that occurred on 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 directly owns 50,215 shares in the company, valued at $7,257,071.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho lifted their price objective on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Susquehanna lifted 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, April 22nd. Finally, StockNews.com began coverage on shares of Hess in a research report on Thursday, April 25th. They set a “sell” rating on the stock. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $177.42.

Hess Price Performance

NYSE HES traded up $2.66 on Thursday, hitting $159.43. The company had a trading volume of 3,548,539 shares, compared to its average volume of 2,584,130. The company has a market capitalization of $49.12 billion, a PE ratio of 24.01 and a beta of 1.24. The company’s fifty day moving average price is $152.05 and its 200-day moving average price is $147.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 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.

Hess (NYSE:HES) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The firm’s revenue was up 36.2% compared to the same quarter last year. As a group, analysts predict that Hess Co. will post 9.17 earnings per share for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 yield of 1.10%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

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.