Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Hess Corp. (NYSE:HES) by 2.8% in the first quarter, HoldingsChannel reports. The firm owned 1,167,893 shares of the oil and gas producer’s stock after selling 33,174 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Hess were worth $70,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lindbrook Capital LLC bought a new stake in shares of Hess during the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund increased its position in shares of Hess by 3,900.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,080,934 shares in the last quarter. NuWave Investment Management LLC increased its position in shares of Hess by 266.5% during the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 605 shares in the last quarter. Rational Advisors LLC increased its position in shares of Hess by 266.5% during the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 605 shares in the last quarter. Finally, Trustcore Financial Services LLC bought a new stake in shares of Hess during the first quarter valued at approximately $35,000. 93.19% of the stock is owned by institutional investors and hedge funds.

HES has been the subject of several analyst reports. Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price target for the company. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Morgan Stanley set a $63.00 price target on shares of Hess and gave the company a “buy” rating in a research report on Tuesday, January 29th. Zacks Investment Research raised shares of Hess from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine raised shares of Hess from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Finally, MKM Partners reissued a “neutral” rating and set a $71.00 price target on shares of Hess in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Hess currently has an average rating of “Hold” and an average target price of $68.69.

In other news, COO Gregory P. Hill sold 63,806 shares of Hess stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $66.62, for a total transaction of $4,250,755.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael R. Turner sold 18,756 shares of Hess stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $66.52, for a total transaction of $1,247,649.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,173 shares of company stock valued at $9,377,165. 12.22% of the stock is currently owned by insiders.

NYSE:HES traded down $0.34 during trading hours on Friday, reaching $58.67. The company had a trading volume of 47,157 shares, compared to its average volume of 3,169,700. The company has a current ratio of 1.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.62. Hess Corp. has a 52 week low of $35.59 and a 52 week high of $74.81. The company has a market cap of $19.45 billion, a PE ratio of -79.78 and a beta of 1.96.

Hess (NYSE:HES) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.35. Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm posted ($0.27) EPS. The firm’s revenue was up 15.0% on a year-over-year basis. Research analysts forecast that Hess Corp. will post 0.23 earnings per share for the current year.

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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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