Hess Co. (NYSE:HES) Stock Position Increased by Profund Advisors LLC

Profund Advisors LLC lifted its position in Hess Co. (NYSE:HES) by 9.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,938 shares of the oil and gas producer’s stock after buying an additional 1,305 shares during the period. Profund Advisors LLC’s holdings in Hess were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HES. SCP Investment LP raised its stake in shares of Hess by 100.0% in the 4th quarter. SCP Investment LP now owns 2,800 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 1,400 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Hess in the 4th quarter worth $281,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Hess by 0.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,181 shares of the oil and gas producer’s stock worth $1,612,000 after purchasing an additional 104 shares during the period. US Bancorp DE lifted its holdings in shares of Hess by 116.3% during the fourth quarter. US Bancorp DE now owns 39,595 shares of the oil and gas producer’s stock valued at $5,708,000 after purchasing an additional 21,290 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Hess by 29.8% in the 4th quarter. Advisory Services Network LLC now owns 2,053 shares of the oil and gas producer’s stock valued at $296,000 after purchasing an additional 471 shares during the period. Institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

HES has been the topic of several recent analyst reports. Mizuho cut their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group reduced their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank lowered their price objective 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. Citigroup reduced their target price on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, BMO Capital Markets lowered Hess to an “overweight” rating and dropped their price target for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Hess currently has an average rating of “Hold” and an average price target of $171.31.

Hess Trading Up 0.7 %

Hess stock opened at $134.40 on Monday. Hess Co. has a one year low of $123.79 and a one year high of $167.75. The company’s fifty day moving average price is $138.17 and its two-hundred day moving average price is $147.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The company has a market capitalization of $41.41 billion, a price-to-earnings ratio of 20.58 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings data 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%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. On average, analysts forecast that Hess Co. will post 11.04 earnings per share for the current fiscal year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.50 dividend. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. Hess’s dividend payout ratio (DPR) is currently 30.63%.

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.