Veracity Capital LLC Takes $208,000 Position in Hess Co. (NYSE:HES)

Veracity Capital LLC acquired a new stake in Hess Co. (NYSE:HES) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,365 shares of the oil and gas producer’s stock, valued at approximately $208,000.

Other large investors have also made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Hess by 7.0% in the third quarter. LPL Financial LLC now owns 32,333 shares of the oil and gas producer’s stock worth $4,947,000 after buying an additional 2,121 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Hess by 475.9% during the third quarter. Glenmede Trust Co. NA now owns 13,337 shares of the oil and gas producer’s stock worth $2,041,000 after acquiring an additional 11,021 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Hess by 18.4% during the third quarter. Ameriprise Financial Inc. now owns 1,975,360 shares of the oil and gas producer’s stock worth $302,230,000 after acquiring an additional 307,281 shares during the last quarter. Earnest Partners LLC increased its stake in Hess by 0.5% during the third quarter. Earnest Partners LLC now owns 98,584 shares of the oil and gas producer’s stock worth $15,083,000 after acquiring an additional 450 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in Hess by 5.1% during the third quarter. Lido Advisors LLC now owns 4,196 shares of the oil and gas producer’s stock worth $642,000 after acquiring an additional 204 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Up 0.2 %

Hess stock opened at $149.20 on Friday. The business has a fifty day moving average of $151.86 and a two-hundred day moving average of $149.00. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The firm has a market cap of $45.97 billion, a P/E ratio of 22.85 and a beta of 1.16. Hess Co. has a twelve month low of $129.12 and a twelve month high of $167.75.

Hess (NYSE:HES) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The company had revenue of $3.34 billion during 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 was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, analysts forecast that Hess Co. will post 10.28 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.17%. Hess’s dividend payout ratio is presently 26.80%.

Analyst Ratings Changes

A number of research analysts have recently commented on HES shares. StockNews.com started coverage on Hess in a research note on Friday, June 28th. They set a “hold” rating on the stock. Susquehanna upped their target price on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Citigroup upped 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. Piper Sandler increased their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Mizuho increased their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.