Hess Co. (NYSE:HES) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Hess Co. (NYSE:HES) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,798,788 shares of the oil and gas producer’s stock after buying an additional 181,459 shares during the period. Dimensional Fund Advisors LP owned about 0.58% of Hess worth $265,359,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HES. New Covenant Trust Company N.A. acquired a new stake in shares of Hess in the first quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in Hess during the 1st quarter worth $27,000. Cape Investment Advisory Inc. purchased a new stake in shares of Hess during the fourth quarter worth $32,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 88 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on HES shares. Wolfe Research started coverage on shares of Hess in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho reduced their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday. BMO Capital Markets cut Hess to an “overweight” rating and dropped their target price for the company from $175.00 to $160.00 in a report on Monday, August 19th. Piper Sandler reduced their price target on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Finally, Susquehanna dropped their price objective on shares of Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average target price of $172.77.

Hess Stock Up 1.5 %

Hess stock opened at $130.81 on Wednesday. The company has a market capitalization of $40.30 billion, a PE ratio of 20.03 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $167.75. The firm has a 50 day moving average price of $139.06 and a 200 day moving average price of $147.28.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. Research analysts expect that Hess Co. will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

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.