Sei Investments Co. lifted its stake in shares of Hess Co. (NYSE:HES – Free Report) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 53,105 shares of the oil and gas producer’s stock after acquiring an additional 333 shares during the period. Sei Investments Co.’s holdings in Hess were worth $7,834,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Hess by 4.7% in the second quarter. Pacer Advisors Inc. now owns 19,663 shares of the oil and gas producer’s stock worth $2,901,000 after purchasing an additional 891 shares during the period. AE Wealth Management LLC lifted its stake in shares of Hess by 7.2% during the 2nd quarter. AE Wealth Management LLC now owns 2,698 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 181 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Hess by 1.8% in the 2nd quarter. King Luther Capital Management Corp now owns 11,354 shares of the oil and gas producer’s stock worth $1,675,000 after buying an additional 198 shares during the period. Ieq Capital LLC increased its stake in Hess by 19.8% in the 2nd quarter. Ieq Capital LLC now owns 12,295 shares of the oil and gas producer’s stock worth $1,814,000 after buying an additional 2,035 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Hess by 71.3% during the second quarter. Intech Investment Management LLC now owns 22,492 shares of the oil and gas producer’s stock valued at $3,318,000 after acquiring an additional 9,363 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.
Hess Trading Up 2.2 %
Shares of NYSE HES opened at $133.61 on Monday. The stock has a market capitalization of $41.17 billion, a P/E ratio of 20.46 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 business’s 50 day moving average is $136.24 and its two-hundred day moving average is $146.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.
Hess Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. Hess’s payout ratio is currently 30.63%.
Analysts Set New Price Targets
HES has been the subject of several research analyst reports. BMO Capital Markets cut Hess to an “overweight” rating and cut their target price for the stock from $175.00 to $160.00 in a research report on Monday, August 19th. Wolfe Research began coverage on shares of Hess in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. Citigroup cut their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, StockNews.com initiated coverage on shares of Hess in a research note on Friday, June 28th. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $166.42.
View Our Latest Analysis on Hess
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.
Recommended Stories
- Five stocks we like better than Hess
- The 3 Best Fintech Stocks to Buy Now
- Simon Property REIT: A Safe Bet for Growth and Steady Dividends
- How to Calculate Options Profits
- CarMax’s Impressive Rally: What Investors Should Watch Next
- How to buy stock: A step-by-step guide for beginners
- MarketBeat Week in Review – 9/23 – 9/27
Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Co. (NYSE:HES – Free Report).
Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.