Breakwater Capital Group Increases Stake in Hess Co. (NYSE:HES)

Breakwater Capital Group lifted its stake in Hess Co. (NYSE:HES) by 8.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,629 shares of the oil and gas producer’s stock after buying an additional 124 shares during the quarter. Breakwater Capital Group’s holdings in Hess were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alpine Associates Management Inc. purchased a new position in Hess during the 4th quarter valued at approximately $237,100,000. Westchester Capital Management LLC bought a new stake in Hess in the fourth quarter worth $213,336,000. KRYGER CAPITAL Ltd purchased a new stake in Hess during the fourth quarter valued at $110,423,000. Water Island Capital LLC bought a new position in Hess during the fourth quarter valued at $76,714,000. Finally, Morgan Stanley increased its holdings in shares of Hess by 19.9% in the 3rd quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock worth $451,572,000 after buying an additional 489,169 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Analyst Ratings Changes

HES has been the topic of several analyst reports. Mizuho boosted their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Piper Sandler boosted their price objective on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. StockNews.com assumed coverage on shares of Hess in a report on Friday. They issued a “hold” rating for the company. Citigroup upped their price target on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Susquehanna raised their price objective on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.83.

Hess Trading Down 0.0 %

HES opened at $147.52 on Monday. Hess Co. has a 52 week low of $129.12 and a 52 week high of $167.75. The company has a market capitalization of $45.45 billion, a P/E ratio of 22.59 and a beta of 1.19. The stock’s fifty day moving average is $152.63 and its two-hundred day moving average is $148.94. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 36.2% on a year-over-year basis. Analysts forecast that Hess Co. will post 10.28 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.4375 per share. The ex-dividend date was Friday, June 14th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.19%. Hess’s dividend payout ratio is presently 26.80%.

Hess Profile

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.