Teachers Advisors LLC trimmed its holdings in Hess Corp. (NYSE:HES) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 876,756 shares of the oil and gas producer’s stock after selling 181,853 shares during the period. Teachers Advisors LLC owned about 0.28% of Hess worth $41,620,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in HES. CoreCommodity Management LLC acquired a new stake in shares of Hess during the 4th quarter valued at approximately $108,000. Tower Research Capital LLC TRC raised its position in shares of Hess by 453.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 2,172 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in shares of Hess during the 4th quarter valued at approximately $141,000. Icon Wealth Partners LLC acquired a new stake in shares of Hess during the 4th quarter valued at approximately $145,000. Finally, Exane Derivatives raised its position in shares of Hess by 65.2% during the 4th quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock valued at $168,000 after acquiring an additional 1,395 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors.
In other news, SVP Timothy B. Goodell sold 3,808 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $47.56, for a total value of $181,108.48. Following the completion of the transaction, the senior vice president now owns 106,866 shares of the company’s stock, valued at $5,082,546.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gregory P. Hill sold 7,422 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $48.04, for a total value of $356,552.88. Following the completion of the transaction, the chief operating officer now directly owns 90,600 shares of the company’s stock, valued at approximately $4,352,424. The disclosure for this sale can be found here. In the last three months, insiders sold 174,017 shares of company stock valued at $7,981,459. Company insiders own 11.80% of the company’s stock.
Shares of Hess Corp. (NYSE HES) opened at $46.96 on Tuesday. Hess Corp. has a 52-week low of $37.25 and a 52-week high of $55.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 2.43.
Hess (NYSE:HES) last issued its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). Hess had a negative return on equity of 9.82% and a negative net margin of 74.55%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned ($1.01) earnings per share. Hess’s quarterly revenue was down 6.5% on a year-over-year basis. equities research analysts anticipate that Hess Corp. will post -2.02 EPS for the current year.
Hess declared that its board has initiated a stock buyback program on Thursday, March 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 19th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. Hess’s payout ratio is -7.62%.
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Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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