IFP Advisors Inc lifted its position in shares of Hess Co. (NYSE:HES – Get Rating) by 26.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 932 shares of the oil and gas producer’s stock after acquiring an additional 195 shares during the period. IFP Advisors Inc’s holdings in Hess were worth $80,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Hess by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock worth $3,310,590,000 after buying an additional 667,979 shares during the last quarter. State Street Corp boosted its stake in Hess by 0.9% during the third quarter. State Street Corp now owns 18,783,175 shares of the oil and gas producer’s stock valued at $2,047,178,000 after buying an additional 159,750 shares in the last quarter. Primecap Management Co. CA boosted its stake in Hess by 0.5% during the third quarter. Primecap Management Co. CA now owns 9,372,740 shares of the oil and gas producer’s stock valued at $1,021,535,000 after buying an additional 50,900 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Hess by 11.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,842,807 shares of the oil and gas producer’s stock valued at $854,786,000 after buying an additional 801,336 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Hess by 51.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 7,493,096 shares of the oil and gas producer’s stock valued at $816,673,000 after purchasing an additional 2,546,257 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HES. JPMorgan Chase & Co. increased their price objective on Hess from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 5th. Citigroup raised their target price on Hess from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Bank of America raised their price objective on Hess from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Raymond James raised their price objective on Hess from $170.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Finally, UBS Group initiated coverage on Hess in a research report on Wednesday, April 19th. They issued a “buy” rating and a $184.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hess presently has an average rating of “Moderate Buy” and a consensus target price of $169.06.
Insider Transactions at Hess
Hess Trading Up 1.4 %
NYSE:HES opened at $134.64 on Tuesday. The company has a market cap of $41.34 billion, a P/E ratio of 19.29 and a beta of 1.57. Hess Co. has a 1 year low of $90.34 and a 1 year high of $160.52. The stock’s fifty day moving average price is $135.61 and its two-hundred day moving average price is $140.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.65 and a quick ratio of 1.55.
Hess (NYSE:HES – Get Rating) last released its earnings results on Wednesday, April 26th. The oil and gas producer reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. Hess had a return on equity of 25.85% and a net margin of 18.47%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Hess Co. will post 6.03 EPS for the current year.
Hess Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Monday, March 13th were issued a dividend of $0.438 per share. This is a positive change from Hess’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, March 10th. Hess’s dividend payout ratio is currently 25.07%.
Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.
- Get a free copy of the StockNews.com research report on Hess (HES)
- FREYR Battery Is An Interesting Play On EVs: At Rock Bottom
- Analysts Upgrade GXO Logistics, Its First Quarter Says It All
- The Bottom Is In For AppLovin; Reversal Is Next
- Exact Sciences Serves Investors Exactly What They Wished For
- Shockwave Medical, Fast Grower, In Boston Scientific’s Sights?
Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Co. (NYSE:HES – Get Rating).
Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.