Concurrent Investment Advisors LLC Purchases 180 Shares of Hess Co. (NYSE:HES)

Concurrent Investment Advisors LLC grew its position in Hess Co. (NYSE:HES) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,026 shares of the oil and gas producer’s stock after purchasing an additional 180 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Hess were worth $275,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in Hess in the 2nd quarter valued at $6,054,000. Tidal Investments LLC grew its stake 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 in the last quarter. Cetera Investment Advisers grew its stake 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 in the last quarter. Calamos Advisors LLC increased its position in Hess by 2.7% during the second quarter. Calamos Advisors LLC now owns 590,326 shares of the oil and gas producer’s stock worth $87,085,000 after acquiring an additional 15,684 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Hess by 255.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,836 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 4,911 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now owns 223,147 shares in the company, valued at $31,791,753.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HES shares. Scotiabank increased their target price on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Citigroup lowered their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and upped their target price for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Monday, September 30th. Finally, StockNews.com began coverage on shares of Hess in a research report on Sunday. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average price target of $163.30.

Hess Price Performance

HES stock opened at $141.95 on Tuesday. The stock has a market cap of $43.74 billion, a price-to-earnings ratio of 16.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.14. The company has a 50 day simple moving average of $135.65 and a 200 day simple moving average of $143.47. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. Research analysts anticipate that Hess Co. will post 9.76 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. 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. Hess’s dividend payout ratio (DPR) is presently 23.31%.

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.