Sanctuary Advisors LLC Invests $6.05 Million in Hess Co. (NYSE:HES)

Sanctuary Advisors LLC acquired a new position in shares of Hess Co. (NYSE:HES) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,247 shares of the oil and gas producer’s stock, valued at approximately $6,054,000.

A number of other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Hess in the 1st quarter worth about $25,000. Rise Advisors LLC acquired a new position in Hess in the first quarter worth approximately $27,000. Riverview Trust Co bought a new position in Hess during the first quarter valued at approximately $36,000. EverSource Wealth Advisors LLC lifted its stake in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in Hess in the first quarter worth approximately $52,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Price Performance

Shares of Hess stock opened at $140.34 on Friday. The firm has a fifty day moving average price of $135.28 and a two-hundred day moving average price of $146.24. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week 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 has a market cap of $43.24 billion, a PE ratio of 21.49 and a beta of 1.15.

Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion for 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 period last year, the business earned $0.65 earnings per share. Analysts expect that Hess Co. will post 10.46 EPS for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Hess’s payout ratio is currently 30.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HES shares. StockNews.com began coverage on shares of Hess in a report on Friday, June 28th. They set a “hold” rating on the stock. Piper Sandler reduced their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Susquehanna lowered their price objective on Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Finally, UBS Group decreased their target price on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.15.

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.