Hess Co. (NYSE:HES) Shares Sold by Cwm LLC

Cwm LLC lessened its holdings in shares of Hess Co. (NYSE:HES) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,250 shares of the oil and gas producer’s stock after selling 393 shares during the quarter. Cwm LLC’s holdings in Hess were worth $713,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HES. HighPoint Advisor Group LLC acquired a new stake in Hess during the 4th quarter valued at approximately $220,000. Mather Group LLC. acquired a new stake in Hess during the 1st quarter valued at approximately $52,000. Rise Advisors LLC acquired a new stake in Hess during the 1st quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its stake in Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 77 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in Hess by 4.7% during the 1st quarter. Wedmont Private Capital now owns 4,412 shares of the oil and gas producer’s stock valued at $690,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Down 0.0 %

Shares of NYSE HES opened at $139.42 on Friday. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 21.35 and a beta of 1.15. 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 stock’s 50 day simple moving average is $135.11 and its 200 day simple moving average is $145.37.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.14. The firm 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%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Equities research analysts expect that Hess Co. will post 10.22 EPS for the current year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.43%. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is presently 30.63%.

Analysts Set New Price Targets

HES has been the subject of several research reports. Scotiabank lifted their target price on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Piper Sandler decreased their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Finally, BMO Capital Markets lifted their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $164.00.

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.