Hess Co. (NYSE:HES) Stock Position Lowered by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP lowered its position in Hess Co. (NYSE:HES) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,811 shares of the oil and gas producer’s stock after selling 21,951 shares during the quarter. Hess makes up about 3.2% of Bardin Hill Management Partners LP’s portfolio, making the stock its 6th biggest position. Bardin Hill Management Partners LP’s holdings in Hess were worth $7,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC boosted its stake in shares of Hess by 1.4% during the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after purchasing an additional 68 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in Hess by 1.6% during the second quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock worth $678,000 after buying an additional 72 shares during the period. Quent Capital LLC boosted its position in Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hess by 17.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 77 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after acquiring an additional 78 shares during the period. 88.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HES shares. Piper Sandler dropped their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Mizuho lowered their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group reduced their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank lowered their price objective 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. Finally, Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.15.

Hess Price Performance

NYSE:HES opened at $138.96 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess Co. has a 52 week low of $123.79 and a 52 week high of $167.75. The stock’s 50-day moving average price is $135.79 and its 200-day moving average price is $146.39. The stock has a market capitalization of $42.81 billion, a PE ratio of 21.28 and a beta of 1.15.

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

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Hess Profile

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.