37,247 Shares in Hess Co. (NYSE:HES) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in shares of Hess Co. (NYSE:HES) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 37,247 shares of the oil and gas producer’s stock, valued at approximately $6,054,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. New Covenant Trust Company N.A. bought a new stake in shares of Hess during the first quarter valued at about $25,000. Rise Advisors LLC acquired a new position in Hess during the 1st quarter valued at about $27,000. Riverview Trust Co bought a new stake in shares of Hess during the 1st quarter worth about $36,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hess by 47.6% in the 1st 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 period. Finally, Mather Group LLC. acquired a new stake in shares of Hess in the 1st quarter worth approximately $52,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HES shares. Susquehanna cut their target price on Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Citigroup reduced their price objective on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. StockNews.com began coverage on shares of Hess in a research note on Friday, June 28th. They issued a “hold” rating on the stock. Finally, UBS Group cut their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.15.

Hess Trading Down 0.4 %

NYSE HES opened at $140.34 on Friday. The firm’s 50 day moving average price is $135.28 and its two-hundred day moving average price is $146.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. Hess Co. has a twelve month low of $123.79 and a twelve month high of $167.75. The stock has a market cap of $43.24 billion, a price-to-earnings ratio of 21.49 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.65 earnings per share. Equities analysts anticipate that Hess Co. will post 10.46 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is 30.63%.

About Hess

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.