Hess Co. (NYSE:HES) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its position in shares of Hess Co. (NYSE:HES) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,669 shares of the oil and gas producer’s stock after acquiring an additional 1,389 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Hess were worth $3,532,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HES. KRYGER CAPITAL Ltd acquired a new position in Hess during the 4th quarter worth approximately $110,423,000. Bank of New York Mellon Corp grew its holdings in Hess by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after acquiring an additional 726,631 shares during the period. Water Island Capital LLC purchased a new position in Hess in the fourth quarter worth $76,714,000. Bank of Nova Scotia lifted its holdings in Hess by 774.8% in the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after acquiring an additional 462,953 shares during the period. Finally, Primecap Management Co. CA boosted its position in shares of Hess by 4.4% during the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after purchasing an additional 340,490 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Price Performance

Hess stock opened at $133.50 on Friday. The stock has a market capitalization of $41.13 billion, a P/E ratio of 20.44 and a beta of 1.15. Hess Co. has a 12-month low of $123.79 and a 12-month high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The firm’s 50-day moving average is $138.44 and its two-hundred day moving average is $147.08.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. Equities analysts predict that Hess Co. will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, September 16th. Hess’s dividend payout ratio is presently 30.63%.

Wall Street Analyst Weigh In

Several analysts recently commented on HES shares. Susquehanna reduced their price objective on shares of Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Mizuho reduced their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday. Scotiabank lowered their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Citigroup dropped their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Wolfe Research began coverage on Hess in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given 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 $171.31.

About Hess

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.