Huntington National Bank Has $397,000 Stock Holdings in Hess Co. (NYSE:HES)

Huntington National Bank lessened its holdings in Hess Co. (NYSE:HESFree Report) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,598 shares of the oil and gas producer’s stock after selling 144 shares during the period. Huntington National Bank’s holdings in Hess were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HES. Raymond James Trust N.A. purchased a new position in shares of Hess in the 1st quarter worth approximately $446,000. Blair William & Co. IL boosted its stake in shares of Hess by 17.1% in the 1st quarter. Blair William & Co. IL now owns 4,276 shares of the oil and gas producer’s stock worth $458,000 after buying an additional 625 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Hess by 3.7% in the 1st quarter. Allianz Asset Management GmbH now owns 114,120 shares of the oil and gas producer’s stock worth $12,216,000 after buying an additional 4,027 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Hess in the 1st quarter worth approximately $410,000. Finally, Vanguard Group Inc. lifted its stake in Hess by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after purchasing an additional 667,979 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

HES has been the topic of several research analyst reports. Argus upgraded Hess from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research note on Tuesday, November 7th. Citigroup upped their price objective on Hess from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $171.00 price objective (up previously from $170.00) on shares of Hess in a research note on Tuesday, October 24th. StockNews.com initiated coverage on Hess in a research note on Monday, February 5th. They issued a “sell” rating on the stock. Finally, Susquehanna dropped their price objective on Hess from $160.00 to $152.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Hess currently has a consensus rating of “Hold” and an average target price of $172.71.

Get Our Latest Stock Report on HES

Hess Trading Down 2.9 %

Hess stock opened at $142.07 on Friday. The stock has a market cap of $43.64 billion, a P/E ratio of 31.57 and a beta of 1.28. Hess Co. has a fifty-two week low of $113.82 and a fifty-two week high of $167.75. The firm’s fifty day moving average price is $142.21 and its 200-day moving average price is $148.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.05.

Hess (NYSE:HESGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Equities research analysts forecast that Hess Co. will post 8.1 earnings per share for the current fiscal year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a $0.4375 dividend. The ex-dividend date was Friday, December 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.23%. Hess’s dividend payout ratio is presently 38.89%.

Hess Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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