Barrow Hanley Mewhinney & Strauss LLC Sells 192,763 Shares of Hess Co. (NYSE:HES)

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in shares of Hess Co. (NYSE:HES) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,581,014 shares of the oil and gas producer’s stock after selling 192,763 shares during the quarter. Hess accounts for approximately 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 14th largest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Hess were worth $528,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HES. Manchester Capital Management LLC raised 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 purchasing an additional 68 shares during the period. Drive Wealth Management LLC lifted its stake in 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 valued at $678,000 after buying an additional 72 shares in the last quarter. Quent Capital LLC boosted its holdings 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 valued at $158,000 after buying an additional 73 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of 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 worth $77,000 after acquiring an additional 77 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Hess by 16.9% during the second quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 78 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Hess Price Performance

NYSE:HES opened at $134.40 on Friday. 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 firm has a fifty day simple moving average of $138.17 and a 200 day simple moving average of $147.00. Hess Co. has a 1-year low of $123.79 and a 1-year high of $167.75. The stock has a market capitalization of $41.41 billion, a PE ratio of 20.58 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, research analysts expect that Hess Co. will post 11.04 EPS for the current fiscal year.

Hess Increases Dividend

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

Analyst Upgrades and Downgrades

HES has been the subject of a number of research reports. Piper Sandler lowered their target price on Hess from $173.00 to $167.00 in a report on Friday, September 13th. StockNews.com assumed coverage on Hess in a report on Friday, June 28th. They set a “hold” rating for the company. UBS Group cut their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho reduced their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, BMO Capital Markets downgraded shares of Hess to an “overweight” rating and lowered their price objective for the company from $175.00 to $160.00 in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hess presently has an average rating of “Hold” and a consensus target price of $171.31.

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.