Spire Wealth Management Boosts Stake in Hess Co. (NYSE:HES)

Spire Wealth Management increased its stake in Hess Co. (NYSE:HESFree Report) by 30.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 319 shares of the oil and gas producer’s stock after buying an additional 75 shares during the period. Spire Wealth Management’s holdings in Hess were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Hess by 581.9% in the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after acquiring an additional 1,998,824 shares during the period. Woodline Partners LP bought a new stake in shares of Hess during the 2nd quarter valued at about $113,801,000. Packer & Co Ltd bought a new stake in shares of Hess during the 3rd quarter valued at about $107,806,000. Bank of Montreal Can bought a new position in shares of Hess in the 2nd quarter worth approximately $95,704,000. Finally, Vanguard Group Inc. lifted its stake in shares of Hess by 2.2% in 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 purchasing an additional 667,979 shares during the period. Institutional investors own 81.72% of the company’s stock.

Hess Stock Performance

Shares of NYSE HES opened at $143.56 on Tuesday. The company has a market cap of $44.09 billion, a P/E ratio of 31.90 and a beta of 1.28. Hess Co. has a 52-week low of $113.82 and a 52-week high of $167.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.05. The firm’s fifty day moving average is $142.24 and its two-hundred day moving average is $148.41.

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

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, December 15th. Hess’s dividend payout ratio (DPR) is presently 38.89%.

Analyst Ratings Changes

A number of brokerages have commented on HES. Citigroup upped their target price on shares of Hess from $155.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, October 18th. Wells Fargo & Company restated an “equal weight” rating and issued a $171.00 price objective (up from $170.00) on shares of Hess in a research note on Tuesday, October 24th. UBS Group cut their price target on Hess from $210.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, December 14th. StockNews.com assumed coverage on Hess in a research note on Tuesday. They issued a “sell” rating on the stock. Finally, Morgan Stanley reduced their target price on shares of Hess from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. One equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $172.71.

Check Out Our Latest Stock Report on Hess

About Hess

(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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