V Square Quantitative Management LLC Has $432,000 Stake in Hess Co. (NYSE:HES)

V Square Quantitative Management LLC raised its position in Hess Co. (NYSE:HES) by 39.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,184 shares of the oil and gas producer’s stock after purchasing an additional 908 shares during the quarter. V Square Quantitative Management LLC’s holdings in Hess were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HES. Sanctuary Advisors LLC acquired a new stake in shares of Hess in the second quarter valued at about $6,054,000. Tidal Investments LLC increased its position in shares of Hess by 59.9% in the first quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after acquiring an additional 10,053 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Hess by 424.8% in the first quarter. Cetera Investment Advisers now owns 19,466 shares of the oil and gas producer’s stock valued at $2,971,000 after acquiring an additional 15,757 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Hess by 2.7% in the second quarter. Calamos Advisors LLC now owns 590,326 shares of the oil and gas producer’s stock valued at $87,085,000 after acquiring an additional 15,684 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hess by 24.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,362 shares of the oil and gas producer’s stock valued at $10,129,000 after acquiring an additional 12,915 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group lowered their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler lowered their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. StockNews.com assumed coverage on Hess in a research report on Thursday. They set a “hold” rating on the stock. Susquehanna boosted their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Scotiabank boosted their price target on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Seven 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 price target of $164.00.

Hess Trading Down 0.0 %

Shares of HES stock opened at $139.42 on Friday. Hess Co. has a 1 year low of $123.79 and a 1 year high of $167.75. The stock has a market cap of $42.96 billion, a P/E ratio of 21.35 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $135.11 and a 200 day simple moving average of $145.30.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue was up 40.3% on a year-over-year basis. On average, research analysts predict that Hess Co. will post 10.22 earnings per share for the current fiscal 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is presently 30.63%.

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.