Mission Wealth Management LP boosted its position in shares of Hess Co. (NYSE:HES) by 12.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,349 shares of the oil and gas producer’s stock after acquiring an additional 592 shares during the period. Mission Wealth Management LP’s holdings in Hess were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in shares of Hess by 12.4% in the second quarter. Captrust Financial Advisors now owns 2,200 shares of the oil and gas producer’s stock worth $110,000 after buying an additional 243 shares during the last quarter. CKW Financial Group raised its holdings in shares of Hess by 37.5% in the second quarter. CKW Financial Group now owns 1,100 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 300 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Hess by 1.4% in the second quarter. CIBC Asset Management Inc now owns 24,371 shares of the oil and gas producer’s stock worth $1,263,000 after buying an additional 333 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Hess by 0.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 52,332 shares of the oil and gas producer’s stock worth $1,743,000 after buying an additional 357 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Hess by 9.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,203 shares of the oil and gas producer’s stock worth $218,000 after buying an additional 371 shares during the last quarter. 83.95% of the stock is owned by institutional investors.
In other news, SVP Geurt G. Schoonman sold 4,686 shares of Hess stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $54.08, for a total value of $253,418.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.22% of the stock is owned by company insiders.
A number of research analysts have issued reports on HES shares. Morgan Stanley raised their price target on shares of Hess from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Bank of America decreased their price target on shares of Hess from $70.00 to $63.00 and set a “buy” rating for the company in a report on Monday, September 28th. Raymond James raised their target price on shares of Hess from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and raised their target price for the stock from $53.00 to $59.00 in a report on Wednesday, July 15th. Finally, UBS Group raised their target price on shares of Hess from $37.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $56.84.
HES stock opened at $38.06 on Friday. The firm has a market cap of $11.69 billion, a PE ratio of -3.64 and a beta of 2.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 1.99. The firm’s fifty day moving average is $42.21 and its 200 day moving average is $45.60. Hess Co. has a one year low of $26.06 and a one year high of $74.11.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported ($1.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.14) by $0.09. Hess had a negative net margin of 58.62% and a negative return on equity of 8.81%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $996.22 million. During the same quarter last year, the business earned ($0.09) earnings per share. The firm’s revenue was down 50.4% on a year-over-year basis. Research analysts predict that Hess Co. will post -1.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.25 dividend. The ex-dividend date was Monday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.63%. Hess’s dividend payout ratio (DPR) is -105.26%.
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. 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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