HB Wealth Management LLC Purchases 87 Shares of Hess Co. (NYSE:HES)

HB Wealth Management LLC lifted its position in shares of Hess Co. (NYSE:HES) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,629 shares of the oil and gas producer’s stock after acquiring an additional 87 shares during the period. HB Wealth Management LLC’s holdings in Hess were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Howard Investments Inc. NY lifted its holdings in shares of Hess by 2.7% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 40,445 shares of the oil and gas producer’s stock worth $5,966,000 after acquiring an additional 1,058 shares during the period. Breakwater Capital Group lifted its holdings in shares of Hess by 19.2% during the 2nd quarter. Breakwater Capital Group now owns 1,941 shares of the oil and gas producer’s stock worth $286,000 after acquiring an additional 312 shares during the period. Simmons Bank bought a new stake in shares of Hess during the 2nd quarter worth approximately $256,000. Checchi Capital Advisers LLC lifted its holdings in shares of Hess by 4.7% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,130 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 96 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Hess by 6.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,007 shares of the oil and gas producer’s stock worth $1,771,000 after purchasing an additional 768 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Hess in a research report on Friday, June 28th. They set a “hold” rating for the company. UBS Group lowered their price objective on shares of Hess from $193.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Scotiabank lowered their price objective on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. BMO Capital Markets cut shares of Hess to an “overweight” rating and lowered their price objective for the stock from $175.00 to $160.00 in a research report on Monday, August 19th. Finally, Citigroup upped their price objective on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $175.77.

Hess Trading Up 1.0 %

HES opened at $138.12 on Friday. Hess Co. has a twelve month low of $130.35 and a twelve month high of $167.75. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $143.82 and a 200-day moving average of $148.84. The stock has a market cap of $42.56 billion, a PE ratio of 21.15 and a beta of 1.16.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts predict that Hess Co. will post 11.08 EPS for the current year.

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.