State of Alaska Department of Revenue Has $10.18 Million Stake in Hess Co. (NYSE:HES)

State of Alaska Department of Revenue increased its holdings in shares of Hess Co. (NYSE:HES) by 91.0% during the 4th quarter, HoldingsChannel reports. The firm owned 76,512 shares of the oil and gas producer’s stock after purchasing an additional 36,443 shares during the period. State of Alaska Department of Revenue’s holdings in Hess were worth $10,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of Hess by 47.1% in the second quarter. Truist Financial Corp now owns 20,333 shares of the oil and gas producer’s stock valued at $2,999,000 after buying an additional 6,508 shares during the period. Cetera Investment Advisers lifted its position in Hess by 1.5% in the 2nd quarter. Cetera Investment Advisers now owns 19,751 shares of the oil and gas producer’s stock valued at $2,914,000 after acquiring an additional 285 shares in the last quarter. Czech National Bank boosted its stake in Hess by 6.9% in the 3rd quarter. Czech National Bank now owns 56,302 shares of the oil and gas producer’s stock worth $7,646,000 after purchasing an additional 3,635 shares during the period. Clarus Wealth Advisors increased its holdings in Hess by 7.7% during the 3rd quarter. Clarus Wealth Advisors now owns 3,221 shares of the oil and gas producer’s stock worth $452,000 after purchasing an additional 229 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Hess by 12.8% in the 3rd quarter. UMB Bank n.a. now owns 1,998 shares of the oil and gas producer’s stock valued at $271,000 after purchasing an additional 227 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 92,894 shares of Hess stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. This trade represents a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.76% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the subject of several recent research reports. Pickering Energy Partners raised Hess to a “hold” rating in a research report on Friday, January 3rd. Scotiabank raised their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. UBS Group upped their target price on Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Finally, Susquehanna upped their price objective on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hess has an average rating of “Moderate Buy” and an average target price of $170.50.

Hess Stock Performance

Shares of NYSE HES opened at $141.76 on Friday. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The stock has a 50 day moving average of $140.41 and a 200-day moving average of $139.05. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $43.68 billion, a P/E ratio of 15.75 and a beta of 1.17.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, equities research analysts predict that Hess Co. will post 7.69 EPS for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.41%. Hess’s dividend payout ratio is currently 22.22%.

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.