California State Teachers Retirement System Buys 81,646 Shares of Hess Co. (NYSE:HES)

California State Teachers Retirement System boosted its stake in shares of Hess Co. (NYSE:HES) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 753,564 shares of the oil and gas producer’s stock after purchasing an additional 81,646 shares during the quarter. California State Teachers Retirement System owned about 0.24% of Hess worth $115,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new stake in Hess in the 4th quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in Hess during the 1st quarter worth $27,000. Cape Investment Advisory Inc. purchased a new stake in Hess during the 4th quarter valued at about $32,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter valued at approximately $36,000. Finally, Mather Group LLC. acquired a new stake in shares of Hess in the 1st quarter worth $52,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Price Performance

NYSE HES traded up $1.73 during trading hours on Wednesday, reaching $153.42. The company’s stock had a trading volume of 1,184,567 shares, compared to its average volume of 2,353,607. The stock has a market cap of $47.27 billion, a PE ratio of 23.23 and a beta of 1.16. Hess Co. has a fifty-two week low of $131.61 and a fifty-two week high of $167.75. The company’s 50-day moving average is $148.63 and its two-hundred day moving average is $149.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the firm posted $0.65 EPS. The company’s revenue was up 40.3% on a year-over-year basis. Analysts forecast that Hess Co. will post 11.08 EPS for the current year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.14%. Hess’s dividend payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HES shares. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Wolfe Research began coverage on shares of Hess in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Susquehanna decreased their target price on Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. StockNews.com initiated coverage on Hess in a report on Friday, June 28th. They set a “hold” rating on the stock. Finally, Mizuho upped their price target on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $178.58.

Hess 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.