Oppenheimer & Co. Inc. grew its stake in shares of Hess Co. (NYSE:HES – Free Report) by 7.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,569 shares of the oil and gas producer’s stock after acquiring an additional 175 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hess were worth $340,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Hess by 36.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 279 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 75 shares during the last quarter. Brown Advisory Inc. raised its stake in Hess by 0.6% during the 4th quarter. Brown Advisory Inc. now owns 12,726 shares of the oil and gas producer’s stock valued at $1,805,000 after purchasing an additional 80 shares during the period. Signaturefd LLC raised its stake in Hess by 4.1% during the 1st quarter. Signaturefd LLC now owns 2,171 shares of the oil and gas producer’s stock valued at $287,000 after purchasing an additional 85 shares during the period. Brinker Capital Investments LLC raised its stake in Hess by 1.5% during the 1st quarter. Brinker Capital Investments LLC now owns 5,887 shares of the oil and gas producer’s stock valued at $630,000 after purchasing an additional 86 shares during the period. Finally, Securian Asset Management Inc. raised its stake in Hess by 0.4% during the 1st quarter. Securian Asset Management Inc. now owns 23,452 shares of the oil and gas producer’s stock valued at $3,104,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.
Analysts Set New Price Targets
HES has been the topic of several recent analyst reports. Evercore ISI cut their target price on shares of Hess from $155.00 to $153.00 in a research note on Monday, July 10th. Mizuho upped their price target on shares of Hess from $169.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. Piper Sandler dropped their price target on shares of Hess from $168.00 to $164.00 in a research note on Tuesday, June 13th. Wells Fargo & Company upped their price target on shares of Hess from $161.00 to $169.00 in a research note on Thursday, July 27th. Finally, Morgan Stanley upped their price target on shares of Hess from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.94.
Hess Trading Up 0.0 %
Shares of NYSE:HES opened at $154.70 on Thursday. The company has a market cap of $47.50 billion, a P/E ratio of 29.64 and a beta of 1.59. The stock’s 50-day moving average is $145.17 and its 200-day moving average is $138.88. Hess Co. has a 52-week low of $100.34 and a 52-week high of $160.52. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.43 and a current ratio of 1.54.
Hess (NYSE:HES – Get Free Report) last released its earnings results on Wednesday, July 26th. The oil and gas producer reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Hess had a return on equity of 19.56% and a net margin of 14.60%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the business earned $2.15 earnings per share. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. Equities research analysts predict that Hess Co. will post 4.31 earnings per share for the current year.
Insider Buying and Selling
In related news, COO Gregory P. Hill sold 33,414 shares of Hess stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $151.33, for a total transaction of $5,056,540.62. Following the sale, the chief operating officer now directly owns 82,932 shares of the company’s stock, valued at $12,550,099.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.91% of the stock is owned by company insiders.
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.
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