SG Americas Securities LLC lessened its stake in shares of Hess Co. (NYSE:HES – Get Rating) by 62.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,333 shares of the oil and gas producer’s stock after selling 8,833 shares during the quarter. SG Americas Securities LLC’s holdings in Hess were worth $571,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Keybank National Association OH increased its holdings in Hess by 86.7% in the 4th quarter. Keybank National Association OH now owns 581,549 shares of the oil and gas producer’s stock worth $43,052,000 after purchasing an additional 270,119 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Hess by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 27,734 shares of the oil and gas producer’s stock worth $2,053,000 after purchasing an additional 1,450 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Hess by 155.8% in the first quarter. Assenagon Asset Management S.A. now owns 22,860 shares of the oil and gas producer’s stock worth $2,447,000 after purchasing an additional 13,923 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Hess in the first quarter valued at $305,000. Finally, Xponance Inc. raised its position in Hess by 26.3% during the 4th quarter. Xponance Inc. now owns 20,151 shares of the oil and gas producer’s stock worth $1,492,000 after purchasing an additional 4,202 shares during the last quarter. 82.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on HES. Susquehanna Bancshares lifted their target price on Hess from $118.00 to $138.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Mizuho lowered their price objective on Hess from $158.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Bank of America lowered their price objective on Hess from $180.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Citigroup lowered Hess from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $126.00 to $100.00 in a research report on Friday, June 24th. Finally, Susquehanna boosted their target price on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a research report on Monday, April 25th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.92.
Insider Buying and Selling at Hess
Hess Price Performance
Hess stock opened at $105.66 on Thursday. Hess Co. has a 12 month low of $61.93 and a 12 month high of $131.43. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 1.10. The business’s 50 day simple moving average is $109.85 and its 200 day simple moving average is $104.99. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 22.43 and a beta of 1.61.
Hess (NYSE:HES – Get Rating) last issued its earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. Hess had a net margin of 15.53% and a return on equity of 20.25%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 87.0% compared to the same quarter last year. Sell-side analysts forecast that Hess Co. will post 9.41 EPS for the current year.
Hess Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.50 dividend on an annualized basis and a yield of 1.42%. Hess’s payout ratio is 31.85%.
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.
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