Xponance Inc. lifted its position in Hess Co. (NYSE:HES – Get Rating) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,027 shares of the oil and gas producer’s stock after purchasing an additional 876 shares during the quarter. Xponance Inc.’s holdings in Hess were worth $2,251,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keybank National Association OH increased its stake in Hess by 86.7% in the 4th quarter. Keybank National Association OH now owns 581,549 shares of the oil and gas producer’s stock valued at $43,052,000 after purchasing an additional 270,119 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Hess by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 27,734 shares of the oil and gas producer’s stock worth $2,053,000 after purchasing an additional 1,450 shares during the last quarter. American Trust acquired a new stake in shares of Hess during the fourth quarter worth $371,000. National Bank of Canada FI acquired a new stake in shares of Hess during the fourth quarter worth $142,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Hess by 2.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 22,379 shares of the oil and gas producer’s stock worth $1,670,000 after purchasing an additional 540 shares during the last quarter. 82.51% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the sale, the senior vice president now owns 95,624 shares of the company’s stock, valued at $12,267,602.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.93% of the company’s stock.
Several research firms have recently issued reports on HES. StockNews.com began coverage on Hess in a report on Thursday, March 31st. They set a “hold” rating on the stock. Susquehanna lifted their target price on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a report on Monday, April 25th. Barclays lifted their target price on Hess from $131.00 to $153.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Morgan Stanley lifted their target price on Hess from $137.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, June 6th. Finally, Wells Fargo & Company raised their price objective on Hess from $106.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.27.
Shares of HES stock opened at $105.39 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.42 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average of $113.51 and a two-hundred day moving average of $101.47. Hess Co. has a 52 week low of $61.93 and a 52 week high of $131.43. The company has a market cap of $32.80 billion, a P/E ratio of 45.43 and a beta of 1.66.
Hess (NYSE:HES – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The oil and gas producer reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.18. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.05 billion. Hess had a return on equity of 12.35% and a net margin of 9.01%. The business’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Analysts expect that Hess Co. will post 8.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, June 14th. This represents a $1.50 annualized dividend and a dividend yield of 1.42%. Hess’s dividend payout ratio is presently 64.66%.
Hess Profile (Get Rating)
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.
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