Summit Trail Advisors LLC lessened its position in Hess Co. (NYSE:HES – Free Report) by 23.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,525 shares of the oil and gas producer’s stock after selling 466 shares during the period. Summit Trail Advisors LLC’s holdings in Hess were worth $225,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in HES. New Covenant Trust Company N.A. acquired a new stake in shares of Hess in the 1st quarter worth $25,000. Rise Advisors LLC acquired a new stake in shares of Hess in the first quarter valued at about $27,000. Cape Investment Advisory Inc. acquired a new stake in shares of Hess in the fourth quarter valued at about $32,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.
Hess Price Performance
Hess stock opened at $135.61 on Wednesday. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 20.77 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. Hess Co. has a 1 year low of $123.79 and a 1 year high of $167.75. The firm has a 50 day moving average price of $137.56 and a 200 day moving average price of $146.90.
Hess Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.47%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. Hess’s payout ratio is 30.63%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on HES. Mizuho reduced their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Hess in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup dropped their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and raised their target price for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Finally, Scotiabank dropped their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.31.
View Our Latest Stock Report 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.
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