Hess Co. (NYSE:HES) Stock Holdings Increased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of Hess Co. (NYSE:HES) by 71.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,492 shares of the oil and gas producer’s stock after acquiring an additional 9,363 shares during the period. Intech Investment Management LLC’s holdings in Hess were worth $3,318,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its stake in Hess by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock valued at $17,781,000 after acquiring an additional 1,210 shares in the last quarter. TD Asset Management Inc increased its position in shares of Hess by 14.4% during the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after purchasing an additional 12,649 shares during the period. Tidal Investments LLC increased its position in shares of Hess by 59.9% during the 1st quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after purchasing an additional 10,053 shares during the period. Bank of Nova Scotia increased its position in shares of Hess by 774.8% during the 4th quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after purchasing an additional 462,953 shares during the period. Finally, K2 Principal Fund L.P. acquired a new position in shares of Hess during the 4th quarter valued at $2,616,000. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

Shares of NYSE:HES opened at $134.40 on Monday. The business has a 50 day moving average price of $138.17 and a 200 day moving average price of $147.03. Hess Co. has a twelve month low of $123.79 and a twelve month high of $167.75. The company has a market cap of $41.41 billion, a price-to-earnings ratio of 20.58 and a beta of 1.15. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78.

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

Hess Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.49%. Hess’s dividend payout ratio is 30.63%.

Wall Street Analyst Weigh In

HES has been the topic of several research analyst reports. Citigroup lowered their price target on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Mizuho decreased their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. BMO Capital Markets cut Hess to an “overweight” rating and decreased their target price for the stock from $175.00 to $160.00 in a report on Monday, August 19th. StockNews.com initiated coverage on Hess in a report on Friday, June 28th. They issued a “hold” rating on the stock. Finally, Wolfe Research initiated coverage on Hess in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.31.

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.