Allspring Global Investments Holdings LLC Has $4.15 Million Holdings in Hess Co. (NYSE:HES)

Allspring Global Investments Holdings LLC trimmed its position in shares of Hess Co. (NYSE:HES) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,779 shares of the oil and gas producer’s stock after selling 313 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hess were worth $4,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Hess in the 4th quarter valued at about $13,550,000. Bleakley Financial Group LLC lifted its position in shares of Hess by 8.6% in the fourth quarter. Bleakley Financial Group LLC now owns 12,499 shares of the oil and gas producer’s stock valued at $1,802,000 after buying an additional 987 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Hess by 6.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the oil and gas producer’s stock worth $436,000 after acquiring an additional 193 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Hess by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,524 shares of the oil and gas producer’s stock worth $7,572,000 after acquiring an additional 240 shares during the last quarter. Finally, Financial Insights Inc. raised its stake in Hess by 16.4% in the 4th quarter. Financial Insights Inc. now owns 4,826 shares of the oil and gas producer’s stock valued at $696,000 after acquiring an additional 681 shares during the period. 88.51% of the stock is owned by institutional investors.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the 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 owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Gregory P. Hill sold 4,708 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $680,400.16. Following the sale, the chief operating officer now directly owns 125,670 shares in the company, valued at approximately $18,161,828.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock valued at $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Analysts Set New Price Targets

HES has been the topic of several research analyst reports. StockNews.com began coverage on shares of Hess in a research report on Wednesday. They issued a “sell” rating on the stock. Susquehanna raised their price objective on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Piper Sandler upped their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Mizuho lifted their price target on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $176.75.

Hess Trading Up 1.7 %

HES opened at $154.35 on Friday. The stock has a market capitalization of $47.56 billion, a price-to-earnings ratio of 34.30 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75. The company has a 50-day simple moving average of $149.96 and a 200 day simple moving average of $146.83.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The company 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%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 EPS. Analysts predict that Hess Co. will post 8.09 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 annualized dividend and a dividend yield of 1.13%. Hess’s payout ratio is 38.89%.

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.