Sequoia Financial Advisors LLC Decreases Holdings in Hess Co. (NYSE:HES)

Sequoia Financial Advisors LLC reduced its position in Hess Co. (NYSE:HESFree Report) by 20.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,502 shares of the oil and gas producer’s stock after selling 893 shares during the period. Sequoia Financial Advisors LLC’s holdings in Hess were worth $535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Hess during the 1st quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Hess during the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC purchased a new stake in Hess during the 4th quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in Hess during the 3rd quarter valued at approximately $33,000. Finally, Cape Investment Advisory Inc. acquired a new position in Hess during the 4th quarter worth approximately $32,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Trading Down 1.6 %

Shares of Hess stock opened at $146.88 on Monday. Hess Co. has a fifty-two week low of $129.12 and a fifty-two week high of $167.75. The firm has a market cap of $45.26 billion, a PE ratio of 22.49 and a beta of 1.16. The business’s fifty day moving average is $151.55 and its two-hundred day moving average is $149.05. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

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

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

Analysts Set New Price Targets

Several research firms have issued reports on HES. StockNews.com began coverage on Hess in a research report on Friday, June 28th. They set a “hold” rating on the stock. Susquehanna boosted their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Citigroup upped their price target on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Mizuho upped their price target on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Piper Sandler upped 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. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess has a consensus rating of “Hold” and a consensus target price of $177.83.

Get Our Latest Analysis on HES

About Hess

(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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