Exchange Traded Concepts LLC Takes $92,000 Position in Hess Co. (NYSE:HES)

Exchange Traded Concepts LLC purchased a new position in Hess Co. (NYSE:HES) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 674 shares of the oil and gas producer’s stock, valued at approximately $92,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Hess during the 1st quarter worth approximately $25,000. Riverview Trust Co bought a new position in Hess in the first quarter worth $36,000. EverSource Wealth Advisors LLC lifted its position in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 88 shares during the period. Rothschild Investment LLC bought a new stake in shares of Hess during the 2nd quarter valued at $60,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Hess in the 2nd quarter worth about $74,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

HES opened at $138.66 on Wednesday. The company’s 50-day simple moving average is $135.30 and its two-hundred day simple moving average is $144.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. The stock has a market capitalization of $42.72 billion, a P/E ratio of 21.23 and a beta of 1.15. Hess Co. has a 52-week low of $123.79 and a 52-week high of $166.50.

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. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, analysts predict that Hess Co. will post 10.22 EPS 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 given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.44%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Analyst Upgrades and Downgrades

HES has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Hess in a research note on Thursday, October 17th. They set a “hold” rating for the company. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. BMO Capital Markets increased their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research report on Monday, September 30th. Finally, Mizuho cut their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $164.00.

About Hess

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.