Whittier Trust Co. Has $3.67 Million Stock Holdings in Hess Co. (NYSE:HES)

Whittier Trust Co. cut its stake in Hess Co. (NYSE:HES) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,010 shares of the oil and gas producer’s stock after selling 113 shares during the period. Whittier Trust Co.’s holdings in Hess were worth $3,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HES. Mather Group LLC. acquired a new position in Hess in the 1st quarter valued at $52,000. Riverview Trust Co bought a new position in shares of Hess in the 1st quarter valued at $36,000. Sunbelt Securities Inc. increased its stake in shares of Hess by 13.2% in the 1st quarter. Sunbelt Securities Inc. now owns 1,211 shares of the oil and gas producer’s stock valued at $185,000 after purchasing an additional 141 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hess by 13.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,841 shares of the oil and gas producer’s stock valued at $892,000 after purchasing an additional 706 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new position in shares of Hess in the 1st quarter valued at $201,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HES. Mizuho decreased their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Piper Sandler decreased their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Scotiabank lifted their price target on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Citigroup reduced their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Hess presently has a consensus rating of “Hold” and a consensus price target of $164.00.

Hess Trading Up 0.1 %

NYSE HES opened at $139.60 on Tuesday. The business’s 50-day moving average price is $135.20 and its two-hundred day moving average price is $145.11. Hess Co. has a 12 month low of $123.79 and a 12 month high of $166.50. The firm has a market capitalization of $43.01 billion, a PE ratio of 21.38 and a beta of 1.15. 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 released its quarterly earnings results 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 return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was up 40.3% on a year-over-year basis. On average, analysts expect that Hess Co. will post 10.22 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 30.63%.

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.