Bokf Na Grows Position in Hess Co. (NYSE:HES)

Bokf Na raised its position in Hess Co. (NYSE:HES) by 2,507.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,242 shares of the oil and gas producer’s stock after acquiring an additional 2,156 shares during the quarter. Bokf Na’s holdings in Hess were worth $331,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KRYGER CAPITAL Ltd purchased a new stake in Hess during the 4th quarter worth about $110,423,000. Bank of New York Mellon Corp boosted its holdings in Hess by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after purchasing an additional 726,631 shares in the last quarter. Water Island Capital LLC purchased a new position in Hess in the fourth quarter valued at approximately $76,714,000. Bank of Nova Scotia raised its holdings in Hess by 774.8% during the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock worth $75,351,000 after purchasing an additional 462,953 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Hess by 136.1% during the 4th quarter. Clearbridge Investments LLC now owns 690,526 shares of the oil and gas producer’s stock worth $99,546,000 after buying an additional 398,089 shares during the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Trading Up 0.7 %

Shares of Hess stock opened at $128.92 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of 19.74 and a beta of 1.15. Hess Co. has a 52-week low of $123.79 and a 52-week high of $167.75. The company’s 50-day simple moving average is $139.36 and its 200-day simple moving average is $147.41.

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

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is 30.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HES shares. Scotiabank dropped their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Piper Sandler reduced their target price on Hess from $173.00 to $167.00 in a report on Friday. StockNews.com initiated coverage on Hess in a research note on Friday, June 28th. They set a “hold” rating on the stock. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Finally, Wolfe Research began coverage on Hess in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.77.

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.