SouthState Corp Sells 120 Shares of Hess Co. (NYSE:HES)

SouthState Corp reduced its position in shares of Hess Co. (NYSE:HES) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 532 shares of the oil and gas producer’s stock after selling 120 shares during the period. SouthState Corp’s holdings in Hess were worth $71,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HES. Wellington Management Group LLP boosted its stake in shares of Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after buying an additional 1,391,311 shares during the last quarter. HBK Investments L P boosted its position in Hess by 16.7% in the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after purchasing an additional 1,017,720 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Hess by 46.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock worth $389,787,000 after purchasing an additional 927,093 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Hess by 31.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock valued at $450,696,000 after purchasing an additional 785,270 shares during the period. Finally, Holocene Advisors LP purchased a new stake in shares of Hess during the 3rd quarter valued at $75,126,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HES has been the subject of several research reports. StockNews.com assumed coverage on shares of Hess in a research report on Tuesday. They set a “hold” rating for the company. Citigroup raised their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, UBS Group increased their price target on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average target price of $170.60.

Hess Trading Up 1.5 %

Shares of HES opened at $150.43 on Tuesday. The business’s 50-day moving average price is $145.47 and its 200-day moving average price is $140.32. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock has a market cap of $46.38 billion, a PE ratio of 16.71 and a beta of 1.21.

Hess (NYSE:HES) last announced its quarterly earnings results 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%. On average, equities analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. 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.