EverSource Wealth Advisors LLC Has $103,000 Position in Hess Co. (NYSE:HES)

EverSource Wealth Advisors LLC lifted its stake in Hess Co. (NYSE:HES) by 145.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 671 shares of the oil and gas producer’s stock after acquiring an additional 398 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Hess were worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Hess in the 1st quarter worth about $25,000. Rise Advisors LLC acquired a new stake in shares of Hess during the 1st quarter valued at about $27,000. Riverview Trust Co bought a new stake in shares of Hess in the 1st quarter valued at approximately $36,000. Mather Group LLC. acquired a new position in Hess in the first quarter worth approximately $52,000. Finally, Rothschild Investment LLC bought a new position in Hess during the second quarter valued at approximately $60,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Trading Down 1.2 %

Shares of HES stock opened at $130.67 on Friday. The firm has a market capitalization of $40.26 billion, a P/E ratio of 20.01 and a beta of 1.15. Hess Co. has a 1 year low of $123.79 and a 1 year high of $167.75. The firm’s fifty day simple moving average is $137.12 and its 200 day simple moving average is $146.80. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, sell-side analysts predict that Hess Co. will post 10.46 EPS for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Wall Street Analysts Forecast Growth

HES has been the subject of several recent research reports. StockNews.com started coverage on shares of Hess in a research report on Friday, June 28th. They issued a “hold” rating for the company. UBS Group lowered their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Scotiabank reduced their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Citigroup decreased their price target 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 report on Thursday, July 18th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.