Hess Co. (NYSE:HES) Shares Sold by Principal Financial Group Inc.

Posted by Defense World Staff on Aug 19th, 2023

Principal Financial Group Inc. lessened its holdings in Hess Co. (NYSE:HES – Free Report) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,069 shares of the oil and gas producer’s stock after selling 1,176 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Hess worth $45,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Delta Asset Management LLC TN acquired a new position in Hess in the 4th quarter worth approximately $26,000. New Hampshire Trust acquired a new position in Hess in the 4th quarter worth approximately $35,000. TFC Financial Management Inc. acquired a new stake in shares of Hess during the 1st quarter worth approximately $36,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Hess by 36.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 279 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 75 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Hess during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 82.89% of the company’s stock.

Insiders Place Their Bets

In other Hess news, COO Gregory P. Hill sold 33,414 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $151.33, for a total value of $5,056,540.62. Following the completion of the sale, the chief operating officer now directly owns 82,932 shares of the company’s stock, valued at approximately $12,550,099.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HES shares. Morgan Stanley raised their price objective on shares of Hess from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James dropped their price objective on shares of Hess from $172.00 to $166.00 and set an “outperform” rating on the stock in a research note on Monday, July 24th. Piper Sandler dropped their price objective on shares of Hess from $168.00 to $164.00 in a research note on Tuesday, June 13th. Evercore ISI dropped their price objective on shares of Hess from $155.00 to $153.00 in a research note on Monday, July 10th. Finally, Mizuho raised their price objective on shares of Hess from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Hess presently has a consensus rating of “Moderate Buy” and an average price target of $168.94.

Get Our Latest Research Report on Hess

Hess Trading Up 0.8 %

Shares of HES stock opened at $155.56 on Friday. The stock’s fifty day moving average is $142.33 and its two-hundred day moving average is $138.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.43 and a current ratio of 1.54. The firm has a market capitalization of $47.77 billion, a P/E ratio of 29.80 and a beta of 1.59. Hess Co. has a fifty-two week low of $100.34 and a fifty-two week high of $160.52.

Hess (NYSE:HES – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Hess had a return on equity of 19.56% and a net margin of 14.60%. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 EPS. Research analysts expect that Hess Co. will post 3.95 earnings per share for the current fiscal year.

About Hess

(Free Report)

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.

Hess Co. (NYSE:HES) Shares Sold by Principal Financial Group Inc.

Insiders Place Their Bets

Wall Street Analysts Forecast Growth

Hess Trading Up 0.8 %

About Hess

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