Veracity Capital LLC Buys New Stake in Hess Co. (NYSE:HES)

Veracity Capital LLC bought a new stake in Hess Co. (NYSE:HES) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,365 shares of the oil and gas producer’s stock, valued at approximately $208,000.

Several other institutional investors have also recently added to or reduced their stakes in HES. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Hess in the fourth quarter valued at $27,000. Rise Advisors LLC acquired a new stake in Hess in the first quarter valued at approximately $27,000. Sound Income Strategies LLC purchased a new position in Hess in the fourth quarter worth approximately $29,000. Cape Investment Advisory Inc. acquired a new position in Hess during the 4th quarter worth approximately $32,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Hess in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the topic of several recent analyst reports. StockNews.com assumed coverage on Hess in a report on Friday, June 28th. They issued a “hold” rating on the stock. Piper Sandler increased their price objective on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Mizuho raised their target price on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Citigroup upped their price target on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Susquehanna raised their price objective on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Hess has an average rating of “Hold” and a consensus price target of $177.83.

Hess Trading Up 0.2 %

Shares of Hess stock opened at $149.20 on Friday. Hess Co. has a 1 year low of $129.12 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. The company has a market capitalization of $45.97 billion, a P/E ratio of 22.85 and a beta of 1.16. The company’s fifty day moving average is $151.86 and its two-hundred day moving average is $149.00.

Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. Hess’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. Analysts forecast that Hess Co. will post 10.28 earnings per share for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, June 14th. Hess’s payout ratio is 26.80%.

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.