Allspring Global Investments Holdings LLC Boosts Stake in Hess Co. (NYSE:HES)

Allspring Global Investments Holdings LLC raised its position in Hess Co. (NYSE:HES) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,651 shares of the oil and gas producer’s stock after buying an additional 463 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hess were worth $3,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in shares of Hess by 22.7% in the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd raised its stake in shares of Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Hess in the 3rd quarter valued at about $37,000. Eastern Bank acquired a new stake in shares of Hess in the 3rd quarter valued at about $48,000. Finally, LRI Investments LLC raised its stake in shares of Hess by 157.2% in the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 217 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Price Performance

NYSE HES opened at $151.19 on Friday. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market capitalization of $46.58 billion, a PE ratio of 16.80 and a beta of 1.17. The company’s 50 day simple moving average is $140.66 and its 200 day simple moving average is $138.92.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, equities research analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.32%. Hess’s dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

Several research firms recently weighed in on HES. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. StockNews.com assumed coverage on shares of Hess in a research note on Friday, February 14th. They set a “hold” rating on the stock. Citigroup upped their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, UBS Group upped their target price on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.60.

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.