Public Employees Retirement Association of Colorado Lowers Stake in Hess Corp. (NYSE:HES)

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Public Employees Retirement Association of Colorado lowered its stake in shares of Hess Corp. (NYSE:HES) by 2.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 52,044 shares of the oil and gas producer’s stock after selling 1,223 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hess were worth $3,308,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Icon Wealth Partners LLC acquired a new stake in Hess during the 1st quarter worth approximately $25,000. Steward Partners Investment Advisory LLC acquired a new stake in Hess during the 2nd quarter worth approximately $29,000. Trustcore Financial Services LLC acquired a new stake in Hess during the 1st quarter worth approximately $35,000. Citizens Financial Group Inc RI acquired a new stake in Hess during the 1st quarter worth approximately $52,000. Finally, Harvest Group Wealth Management LLC acquired a new stake in Hess during the 1st quarter worth approximately $66,000. 92.62% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of Hess stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total transaction of $417,699.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael R. Turner sold 30,345 shares of Hess stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $65.17, for a total transaction of $1,977,583.65. Following the sale, the insider now owns 94,537 shares in the company, valued at $6,160,976.29. The disclosure for this sale can be found here. Insiders sold a total of 48,908 shares of company stock worth $3,090,015 over the last 90 days. Company insiders own 12.22% of the company’s stock.

Shares of HES opened at $59.82 on Friday. Hess Corp. has a twelve month low of $35.59 and a twelve month high of $74.81. The firm’s fifty day simple moving average is $61.37 and its 200-day simple moving average is $60.34. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of -80.84 and a beta of 1.97. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a net margin of 1.09% and a return on equity of 0.46%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business earned ($0.23) EPS. The company’s revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Hess Corp. will post -0.39 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Hess from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, April 30th. Wells Fargo & Co reiterated a “buy” rating on shares of Hess in a report on Wednesday, July 31st. Capital One Financial upgraded shares of Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, May 28th. Finally, ValuEngine lowered shares of Hess from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.46.

Hess Profile

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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