Intech Investment Management LLC Grows Position in Hess Co. (NYSE:HES)

Intech Investment Management LLC raised its position in Hess Co. (NYSE:HES) by 71.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,492 shares of the oil and gas producer’s stock after purchasing an additional 9,363 shares during the quarter. Intech Investment Management LLC’s holdings in Hess were worth $3,318,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HES. SCP Investment LP raised its holdings in shares of Hess by 100.0% in the 4th quarter. SCP Investment LP now owns 2,800 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 1,400 shares during the period. Quest Partners LLC acquired a new stake in shares of Hess in the fourth quarter valued at about $281,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Hess by 0.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,181 shares of the oil and gas producer’s stock valued at $1,612,000 after buying an additional 104 shares in the last quarter. US Bancorp DE grew its stake in shares of Hess by 116.3% in the fourth quarter. US Bancorp DE now owns 39,595 shares of the oil and gas producer’s stock valued at $5,708,000 after buying an additional 21,290 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of Hess by 29.8% in the fourth quarter. Advisory Services Network LLC now owns 2,053 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 471 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler lowered their target price on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Susquehanna lowered their target price on Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Mizuho lowered their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group lowered their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, StockNews.com assumed coverage on Hess in a research note on Friday, June 28th. They set a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hess currently has an average rating of “Hold” and an average price target of $171.31.

Hess Price Performance

Shares of HES opened at $134.40 on Monday. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 20.58 and a beta of 1.15. The stock has a 50 day moving average of $138.17 and a 200-day moving average of $147.03. 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 Co. has a 52 week low of $123.79 and a 52 week high of $167.75.

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

Hess Increases Dividend

The business also recently declared 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. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. Hess’s dividend payout ratio (DPR) is 30.63%.

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. 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.