Oppenheimer Asset Management Inc. Has $541,000 Stock Position in Hess Co. (NYSE:HES)

Oppenheimer Asset Management Inc. raised its stake in Hess Co. (NYSE:HES) by 34.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,668 shares of the oil and gas producer’s stock after acquiring an additional 948 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hess were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of HES. Vanguard Group Inc. increased its holdings in shares of Hess by 0.9% in the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Hess by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after buying an additional 726,631 shares during the period. KRYGER CAPITAL Ltd increased its stake in shares of Hess by 44.0% in the 1st quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock valued at $168,394,000 after buying an additional 337,238 shares during the period. Clearbridge Investments LLC raised its position in shares of Hess by 31.7% during the first quarter. Clearbridge Investments LLC now owns 909,089 shares of the oil and gas producer’s stock worth $138,763,000 after acquiring an additional 218,563 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Hess by 12.2% during the first quarter. California State Teachers Retirement System now owns 753,564 shares of the oil and gas producer’s stock valued at $115,024,000 after acquiring an additional 81,646 shares during the period. 88.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HES shares. UBS Group dropped their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho dropped their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Susquehanna reduced their price objective on shares of Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. BMO Capital Markets cut shares of Hess to an “overweight” rating and dropped their target price for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Finally, StockNews.com started coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and an average price target of $171.31.

Hess Stock Up 0.7 %

NYSE:HES 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 stock has a 50-day moving average price of $138.17 and a two-hundred day moving average price of $147.00. The stock has a market cap of $41.41 billion, a price-to-earnings ratio of 20.58 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. Hess’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. As a group, equities analysts expect that Hess Co. will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, September 16th. Hess’s dividend payout ratio (DPR) is presently 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.