Commonwealth Equity Services LLC Has $1.79 Million Stock Position in Hess Co. (NYSE:HES)

Commonwealth Equity Services LLC cut its holdings in Hess Co. (NYSE:HESFree Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,739 shares of the oil and gas producer’s stock after selling 2,557 shares during the period. Commonwealth Equity Services LLC’s holdings in Hess were worth $1,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hess by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after buying an additional 8,439 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Hess by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock worth $17,781,000 after acquiring an additional 1,210 shares in the last quarter. TD Asset Management Inc raised its stake in Hess by 14.4% during the fourth quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock worth $14,464,000 after acquiring an additional 12,649 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Hess during the fourth quarter worth about $237,100,000. Finally, Arvest Investments Inc. acquired a new position in Hess during the fourth quarter worth about $1,407,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HES has been the topic of several research reports. Piper Sandler boosted their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. StockNews.com started coverage on shares of Hess in a research note on Friday, June 28th. They set a “hold” rating for the company. Mizuho lifted their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Citigroup boosted their price target on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Finally, Susquehanna boosted their target price on shares of Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.83.

Read Our Latest Research Report on Hess

Hess Stock Performance

Hess stock opened at $146.88 on Friday. The firm’s 50 day simple moving average is $151.55 and its 200 day simple moving average is $149.01. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $45.26 billion, a PE ratio of 22.49 and a beta of 1.16. Hess Co. has a 1-year low of $129.12 and a 1-year high of $167.75.

Hess (NYSE:HESGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, analysts expect that Hess Co. will post 10.28 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.4375 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.19%. Hess’s dividend payout ratio (DPR) is 26.80%.

Hess Profile

(Free Report)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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