PNC Financial Services Group Inc. raised its position in shares of Hess Co. (NYSE:HES – Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,973 shares of the oil and gas producer’s stock after purchasing an additional 2,473 shares during the period. PNC Financial Services Group Inc.’s holdings in Hess were worth $10,664,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HES. Blair William & Co. IL raised its stake in shares of Hess by 3.7% in the 3rd quarter. Blair William & Co. IL now owns 5,556 shares of the oil and gas producer’s stock valued at $850,000 after acquiring an additional 199 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Hess by 33.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 385 shares of the oil and gas producer’s stock valued at $59,000 after acquiring an additional 97 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Hess by 0.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 64,528 shares of the oil and gas producer’s stock valued at $10,090,000 after acquiring an additional 348 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Hess by 9.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,042 shares of the oil and gas producer’s stock valued at $465,000 after acquiring an additional 271 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Hess in the 3rd quarter valued at approximately $1,264,000. 88.51% of the stock is owned by hedge funds and other institutional investors.
Hess Price Performance
Shares of NYSE:HES opened at $143.33 on Wednesday. Hess Co. has a 1-year low of $129.12 and a 1-year high of $167.75. The firm has a market capitalization of $44.16 billion, a PE ratio of 21.95 and a beta of 1.20. The business’s 50 day moving average is $153.60 and its 200-day moving average is $148.31. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81.
Hess (NYSE:HES – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping the consensus estimate of $1.73 by $1.43. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. Hess’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 EPS. Sell-side analysts predict that Hess Co. will post 9.55 earnings per share for the current year.
Hess Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.22%. Hess’s dividend payout ratio (DPR) is presently 26.80%.
Analyst Upgrades and Downgrades
HES has been the topic of a number of recent analyst reports. Piper Sandler raised their price objective on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. StockNews.com initiated coverage on Hess in a research note on Wednesday, June 12th. They issued a “sell” rating on the stock. Susquehanna raised their target price on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Citigroup raised their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Mizuho raised their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $177.83.
Read Our Latest Stock Report on HES
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.
See Also
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Source: defenseworld.net
