Hess Co. (NYSE:HES) Stake Increased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC grew its stake in Hess Co. (NYSE:HES) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,130 shares of the oil and gas producer’s stock after purchasing an additional 96 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Hess were worth $314,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Hess during the first quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in Hess during the first quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Hess in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. acquired a new position in shares of Hess in the 4th quarter valued at about $32,000. Finally, Riverview Trust Co bought a new stake in shares of Hess during the 1st quarter valued at about $36,000. Institutional investors own 88.51% of the company’s stock.

Hess Trading Down 0.6 %

Shares of NYSE HES opened at $136.68 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.78. Hess Co. has a one year low of $130.35 and a one year high of $167.75. The business has a 50-day moving average price of $143.82 and a two-hundred day moving average price of $148.84. The firm has a market capitalization of $42.11 billion, a PE ratio of 20.93 and a beta of 1.16.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. As a group, analysts predict that Hess Co. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HES. Citigroup raised their target price on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. UBS Group reduced their price objective on Hess from $193.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Wolfe Research initiated coverage on Hess in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank reduced their price target on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Hess presently has an average rating of “Hold” and an average price target of $175.77.

Hess 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.