Algert Global LLC Raises Holdings in Hess Co. (NYSE:HES)

Algert Global LLC raised its position in Hess Co. (NYSE:HES) by 53.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,920 shares of the oil and gas producer’s stock after purchasing an additional 1,011 shares during the period. Algert Global LLC’s holdings in Hess were worth $431,000 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. Manchester Capital Management LLC lifted its stake in shares of Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock worth $779,000 after buying an additional 68 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock worth $678,000 after purchasing an additional 72 shares during the last quarter. Quent Capital LLC grew its position in shares of Hess by 7.3% in the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after purchasing an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hess by 17.9% in the first 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 during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Hess by 16.9% in the second quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on HES shares. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Monday, September 30th. Citigroup reduced their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Susquehanna dropped their price target on shares of Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Finally, UBS Group decreased their price objective on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.15.

Hess Price Performance

HES opened at $140.26 on Tuesday. The stock’s 50-day moving average price is $135.28 and its 200 day moving average price is $146.18. Hess Co. has a 12-month low of $123.79 and a 12-month high of $167.75. The firm has a market cap of $43.22 billion, a price-to-earnings ratio of 21.48 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Hess Co. will post 10.46 earnings per share for the current year.

Hess Increases Dividend

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