Hess Co. (NYSE:HES) Shares Bought by Breakwater Capital Group

Breakwater Capital Group grew its holdings in Hess Co. (NYSE:HES) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,629 shares of the oil and gas producer’s stock after buying an additional 124 shares during the quarter. Breakwater Capital Group’s holdings in Hess were worth $249,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hess by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after purchasing an additional 8,439 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in Hess by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock valued at $17,781,000 after buying an additional 1,210 shares in the last quarter. TD Asset Management Inc grew its holdings in Hess by 14.4% during the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after buying an additional 12,649 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Hess during the fourth quarter worth $237,100,000. Finally, Arvest Investments Inc. acquired a new position in shares of Hess in the fourth quarter worth $1,407,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

Shares of Hess stock opened at $147.52 on Monday. The business’s fifty day moving average price is $152.63 and its 200 day moving average price is $148.94. Hess Co. has a twelve month low of $129.12 and a twelve month high of $167.75. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $45.45 billion, a P/E ratio of 22.59 and a beta of 1.19.

Hess (NYSE:HES) last released its quarterly earnings data 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. The business 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%. The company’s revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. As a group, research analysts anticipate that Hess Co. will post 10.28 earnings per share for the current year.

Hess Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HES shares. Susquehanna increased their price objective on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Mizuho lifted their price target on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Citigroup boosted their price objective on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. StockNews.com assumed coverage on shares of Hess in a research report on Friday. They set a “hold” rating on the stock. Finally, Piper Sandler boosted their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.83.

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.