Frank Rimerman Advisors LLC Buys 3,967 Shares of Hess Co. (NYSE:HES)

Frank Rimerman Advisors LLC grew its holdings in shares of Hess Co. (NYSE:HES) by 6,010.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,033 shares of the oil and gas producer’s stock after purchasing an additional 3,967 shares during the period. Frank Rimerman Advisors LLC’s holdings in Hess were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HES. Treasurer of the State of North Carolina lifted its holdings in Hess by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock worth $17,781,000 after buying an additional 1,210 shares during the period. TD Asset Management Inc increased its position in shares of Hess by 14.4% during the fourth quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after acquiring an additional 12,649 shares during the last quarter. Tidal Investments LLC increased its position in shares of Hess by 59.9% during the 1st quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after purchasing an additional 10,053 shares during the last quarter. Bank of Nova Scotia boosted its stake in Hess by 774.8% in the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after acquiring an additional 462,953 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in Hess in the fourth quarter worth $2,616,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HES shares. BMO Capital Markets downgraded shares of Hess to an “overweight” rating and lowered their price target for the stock from $175.00 to $160.00 in a report on Monday, August 19th. Susquehanna lowered their price objective on shares of Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Scotiabank reduced their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. StockNews.com assumed coverage on shares of Hess in a research note on Friday, June 28th. They issued a “hold” rating for the company. Finally, Wolfe Research began coverage on Hess in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.31.

Hess Stock Up 0.7 %

Shares of Hess stock opened at $135.32 on Tuesday. The company’s fifty day simple moving average is $137.86 and its two-hundred day simple moving average is $146.97. Hess Co. has a 12-month low of $123.79 and a 12-month high of $167.75. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The company has a market cap of $41.69 billion, a P/E ratio of 20.72 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly 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 company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Research analysts anticipate that Hess Co. will post 11.04 EPS for the current year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.48%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. Hess’s dividend payout ratio is presently 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.