New York State Common Retirement Fund Sells 14,200 Shares of Hess Corp. (NYSE:HES)

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New York State Common Retirement Fund lowered its holdings in shares of Hess Corp. (NYSE:HES) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 541,400 shares of the oil and gas producer’s stock after selling 14,200 shares during the period. New York State Common Retirement Fund’s holdings in Hess were worth $36,171,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Savior LLC acquired a new position in Hess in the 4th quarter valued at $31,000. Valeo Financial Advisors LLC grew its stake in Hess by 410.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 510 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 410 shares during the last quarter. Ropes Wealth Advisors LLC grew its stake in Hess by 625.0% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 580 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 500 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new position in Hess in the 4th quarter valued at $44,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Hess by 95.5% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 921 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 86.77% of the company’s stock.

NYSE HES opened at $60.34 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 1.26. The company’s fifty day moving average is $64.44 and its two-hundred day moving average is $64.12. Hess Corp. has a 52-week low of $53.58 and a 52-week high of $74.11.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.04). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.54 billion. Hess had a negative return on equity of 2.68% and a negative net margin of 6.16%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) earnings per share. Research analysts predict that Hess Corp. will post -0.06 EPS for the current year.

HES has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Hess from a “sector underperform” rating to a “sector outperform” rating and set a $79.00 target price on the stock in a research note on Thursday, January 30th. Cowen initiated coverage on shares of Hess in a research note on Thursday, December 5th. They issued a “market perform” rating and a $65.00 target price on the stock. Bank of America reiterated a “buy” rating and issued a $80.00 target price on shares of Hess in a research note on Thursday. Howard Weil initiated coverage on shares of Hess in a research note on Wednesday, November 13th. They issued a “sector underperform” rating on the stock. Finally, Piper Sandler upgraded shares of Hess from a “neutral” rating to an “overweight” rating and raised their target price for the company from $75.00 to $77.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Hess has a consensus rating of “Buy” and an average price target of $74.46.

In other Hess news, CFO John P. Rielly sold 49,740 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $70.54, for a total value of $3,508,659.60. Following the sale, the chief financial officer now directly owns 238,859 shares in the company, valued at approximately $16,849,113.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John B. Hess sold 226,448 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $57.76, for a total transaction of $13,079,636.48. Following the completion of the sale, the chief executive officer now owns 1,570,572 shares in the company, valued at $90,716,238.72. The disclosure for this sale can be found here. Insiders sold a total of 342,404 shares of company stock worth $20,407,635 over the last 90 days. Company insiders own 12.22% of the company’s stock.

About Hess

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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Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Corp. (NYSE:HES).

Institutional Ownership by Quarter for Hess (NYSE:HES)

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