Edgestream Partners L.P. Has $1.02 Million Stake in Hess Co. (NYSE:HES)

Edgestream Partners L.P. lifted its position in shares of Hess Co. (NYSE:HES) by 228.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,909 shares of the oil and gas producer’s stock after purchasing an additional 4,807 shares during the quarter. Edgestream Partners L.P.’s holdings in Hess were worth $1,019,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Hess by 0.9% during the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock worth $4,903,793,000 after purchasing an additional 294,146 shares during the period. Primecap Management Co. CA raised its position in shares of Hess by 4.4% during the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after purchasing an additional 340,490 shares during the period. Bank of New York Mellon Corp raised its position in shares of Hess by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after purchasing an additional 726,631 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hess by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock worth $265,359,000 after purchasing an additional 181,459 shares during the period. Finally, KRYGER CAPITAL Ltd raised its position in shares of Hess by 44.0% during the first quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock worth $168,394,000 after purchasing an additional 337,238 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on HES. StockNews.com began coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating for the company. BMO Capital Markets lowered Hess to an “overweight” rating and lowered their price target for the company from $175.00 to $160.00 in a research report on Monday, August 19th. UBS Group lowered their price target on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday. Susquehanna lowered their price target on Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.31.

Hess Trading Up 0.7 %

Shares of Hess stock opened at $134.40 on Friday. Hess Co. has a 1 year low of $123.79 and a 1 year high of $167.75. The firm has a market cap of $41.41 billion, a PE ratio of 20.58 and a beta of 1.15. The stock has a fifty day moving average price of $138.17 and a 200-day moving average price of $147.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts anticipate that Hess Co. will post 11.04 EPS for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.49%. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is 30.63%.

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.