Van ECK Associates Corp Has $11.83 Million Stake in Hess Co. (NYSE:HES)

Van ECK Associates Corp boosted its holdings in shares of Hess Co. (NYSE:HES) by 21.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,163 shares of the oil and gas producer’s stock after purchasing an additional 14,064 shares during the period. Van ECK Associates Corp’s holdings in Hess were worth $11,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Hess by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Hess by 34.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after purchasing an additional 726,631 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in Hess during the 4th quarter valued at $237,100,000. Charles Schwab Investment Management Inc. increased its holdings in Hess by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,595,234 shares of the oil and gas producer’s stock valued at $229,969,000 after purchasing an additional 48,457 shares in the last quarter. Finally, KRYGER CAPITAL Ltd increased its holdings in Hess by 44.0% during the 1st quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock valued at $168,394,000 after purchasing an additional 337,238 shares in the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Down 0.0 %

NYSE:HES opened at $138.06 on Monday. Hess Co. has a 12-month low of $130.35 and a 12-month high of $167.75. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $42.54 billion, a P/E ratio of 21.14 and a beta of 1.16. The stock’s fifty day simple moving average is $143.47 and its 200-day simple moving average is $148.81.

Hess (NYSE:HES) last posted its earnings results 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Equities research analysts expect that Hess Co. will post 11.12 earnings per share for the current year.

Wall Street Analyst Weigh In

HES has been the subject of several research reports. Mizuho lifted their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Susquehanna lowered their target price on Hess from $166.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Citigroup lifted their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Finally, Scotiabank lowered their target price on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $175.77.

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.