2,350 Shares in Hess Co. (NYSE:HES) Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC acquired a new stake in shares of Hess Co. (NYSE:HES) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 2,350 shares of the oil and gas producer’s stock, valued at approximately $319,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Manchester Capital Management LLC boosted its position in shares of Hess by 1.4% during the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock worth $779,000 after acquiring an additional 68 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Hess by 1.6% in the second quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock worth $678,000 after buying an additional 72 shares in the last quarter. Quent Capital LLC lifted its position in shares of Hess by 7.3% in the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Hess by 17.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 77 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Hess by 16.9% during the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after buying an additional 78 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Down 0.0 %

Shares of NYSE HES opened at $139.42 on Friday. 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 quick ratio of 1.14 and a current ratio of 1.27. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 21.35 and a beta of 1.15. The business’s 50 day moving average price is $135.11 and its 200-day moving average price is $145.30.

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. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. On average, sell-side analysts expect that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Scotiabank increased their target price on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Monday, September 30th. Piper Sandler lowered their price target on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Finally, StockNews.com began coverage on Hess in a research note on Thursday. They set a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $164.00.

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.