Hess Co. (NYSE:HES) Holdings Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its stake in Hess Co. (NYSE:HES) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,722 shares of the oil and gas producer’s stock after buying an additional 661 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Hess were worth $9,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in Hess in the 1st quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Hess in the 1st quarter worth approximately $27,000. Cape Investment Advisory Inc. purchased a new stake in Hess in the 4th quarter worth approximately $32,000. Riverview Trust Co purchased a new stake in Hess in the 1st quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Shares of HES opened at $128.92 on Tuesday. The company has a market capitalization of $39.72 billion, a PE ratio of 19.74 and a beta of 1.15. Hess Co. has a one year low of $123.79 and a one year high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The company’s fifty day moving average price is $139.36 and its 200 day moving average price is $147.41.

Hess (NYSE:HES) last posted its quarterly 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 company 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%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, analysts expect that Hess Co. will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.55%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. Hess’s dividend payout ratio (DPR) is currently 30.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HES. UBS Group cut their price target on shares of Hess from $193.00 to $192.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Susquehanna cut their price target on shares of Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. StockNews.com began coverage on shares of Hess in a report on Friday, June 28th. They set a “hold” rating on the stock. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and raised their price target for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Finally, Citigroup cut their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.77.

Hess Company 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.