Federated Hermes Inc. Has $193,000 Position in Hess Co. (NYSE:HES)

Federated Hermes Inc. cut its holdings in shares of Hess Co. (NYSE:HES) by 99.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,310 shares of the oil and gas producer’s stock after selling 232,362 shares during the period. Federated Hermes Inc.’s holdings in Hess were worth $193,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HES. New Covenant Trust Company N.A. acquired a new position in shares of Hess during the first quarter worth $25,000. Rise Advisors LLC acquired a new position in Hess during the 1st quarter worth about $27,000. Cape Investment Advisory Inc. bought a new stake in shares of Hess in the 4th quarter valued at about $32,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after acquiring an additional 88 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets cut Hess to an “overweight” rating and reduced their target price for the company from $175.00 to $160.00 in a report on Monday, August 19th. StockNews.com began coverage on shares of Hess in a research report on Friday, June 28th. They set a “hold” rating for the company. Wolfe Research assumed coverage on shares of Hess in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho decreased their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler dropped their price objective on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average price target of $171.31.

Hess Stock Performance

NYSE HES opened at $135.61 on Wednesday. The company has a market cap of $41.78 billion, a P/E ratio of 20.77 and a beta of 1.15. The company has a fifty day simple moving average of $137.56 and a 200 day simple moving average of $146.90. 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 12-month low of $123.79 and a 12-month high of $167.75.

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

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.47%. Hess’s dividend payout ratio 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.