Strategic Planning Group LLC Has $1.30 Million Holdings in Hess Co. (NYSE:HES)

Strategic Planning Group LLC lifted its position in Hess Co. (NYSE:HES) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,481 shares of the oil and gas producer’s stock after buying an additional 1,300 shares during the quarter. Strategic Planning Group LLC’s holdings in Hess were worth $1,295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its stake in shares of Hess by 19.9% in the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock valued at $451,572,000 after buying an additional 489,169 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Hess by 18.4% in the third quarter. Ameriprise Financial Inc. now owns 1,975,360 shares of the oil and gas producer’s stock valued at $302,230,000 after buying an additional 307,281 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Hess in the fourth quarter valued at $237,100,000. Charles Schwab Investment Management Inc. grew its stake in shares of Hess by 3.1% in the fourth 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 buying an additional 48,457 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Hess by 1.1% in the third quarter. American Century Companies Inc. now owns 1,507,079 shares of the oil and gas producer’s stock valued at $230,583,000 after buying an additional 16,867 shares in the last quarter. 88.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HES shares. Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho lifted their price objective on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Citigroup lifted 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. Susquehanna lifted their price objective on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Finally, StockNews.com initiated coverage on shares of Hess in a research report on Thursday, June 20th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $177.83.

Hess Trading Down 0.1 %

Shares of Hess stock opened at $150.24 on Tuesday. The firm has a 50-day moving average of $152.93 and a 200-day moving average of $148.58. The stock has a market cap of $46.29 billion, a PE ratio of 23.03 and a beta of 1.20. Hess Co. has a 52-week low of $129.12 and a 52-week high of $167.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

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

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s dividend payout ratio (DPR) is presently 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.