First Hawaiian Bank Decreases Stock Holdings in Hess Co. (NYSE:HES)

First Hawaiian Bank reduced its position in shares of Hess Co. (NYSE:HES) by 4.0% in the first quarter, Holdings Channel reports. The fund owned 6,068 shares of the oil and gas producer’s stock after selling 253 shares during the quarter. First Hawaiian Bank’s holdings in Hess were worth $926,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Pacific Capital Wealth Advisors Inc. bought a new position in Hess during the fourth quarter valued at $27,000. Sound Income Strategies LLC purchased a new position in Hess in the fourth quarter worth about $29,000. Orion Capital Management LLC bought a new stake in Hess during the third quarter worth approximately $33,000. Cape Investment Advisory Inc. purchased a new stake in Hess during the fourth quarter valued at approximately $32,000. Finally, Fortis Group Advisors LLC purchased a new stake in Hess during the third quarter valued at approximately $46,000. Institutional investors own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HES. Mizuho boosted their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. StockNews.com assumed coverage on shares of Hess in a research report on Thursday. They set a “sell” rating on the stock. Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Susquehanna lifted their price target on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Citigroup increased their price objective on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. 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, Hess presently has an average rating of “Hold” and an average price target of $177.83.

Hess Trading Up 2.7 %

Shares of HES opened at $147.14 on Friday. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 22.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10. Hess Co. has a 1-year low of $129.12 and a 1-year high of $167.75. The company has a 50-day moving average of $153.09 and a 200 day moving average of $148.27.

Hess (NYSE:HES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 36.2% on a year-over-year basis. On average, research analysts expect that Hess Co. will post 9.99 EPS for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s dividend payout ratio is 26.80%.

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.