Mutual of America Capital Management LLC Sells 650 Shares of Hess Co. (NYSE:HES)

Mutual of America Capital Management LLC cut its holdings in Hess Co. (NYSE:HES) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,351 shares of the oil and gas producer’s stock after selling 650 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Hess were worth $6,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arvest Investments Inc. acquired a new stake in Hess in the fourth quarter worth $1,407,000. Exchange Traded Concepts LLC raised its holdings in Hess by 1,456.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock worth $1,082,000 after purchasing an additional 7,022 shares during the period. Miller Howard Investments Inc. NY raised its holdings in Hess by 75.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock worth $5,658,000 after purchasing an additional 16,861 shares during the period. California State Teachers Retirement System raised its holdings in Hess by 8.7% in the third quarter. California State Teachers Retirement System now owns 564,454 shares of the oil and gas producer’s stock worth $86,361,000 after purchasing an additional 45,246 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in Hess in the third quarter worth $222,000. 88.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HES has been the topic of several analyst reports. StockNews.com assumed coverage on shares of Hess in a report on Tuesday. They issued a “sell” rating on the stock. Mizuho raised their price objective on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Susquehanna raised their price objective on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Piper Sandler lifted their price target on shares of Hess from $169.00 to $172.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $176.67.

Hess Stock Performance

Shares of HES stock opened at $153.23 on Friday. The company has a market capitalization of $47.21 billion, a price-to-earnings ratio of 34.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The company has a 50-day simple moving average of $149.28 and a 200 day simple moving average of $146.90. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. Hess’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, sell-side analysts predict that Hess Co. will post 7.97 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio is currently 38.89%.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 completion of the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock valued at $22,811,166 in the last quarter. Company insiders own 9.93% of the company’s stock.

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.