Hess Co. (NYSE:HES) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. boosted its stake in shares of Hess Co. (NYSE:HES) by 12.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,998 shares of the oil and gas producer’s stock after acquiring an additional 227 shares during the period. UMB Bank n.a.’s holdings in Hess were worth $271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HES. New Covenant Trust Company N.A. purchased a new position in Hess in the 1st quarter valued at about $25,000. Rise Advisors LLC purchased a new position in shares of Hess in the first quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter worth approximately $36,000. EverSource Wealth Advisors LLC increased its position in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 88 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Hess in the 1st quarter valued at $52,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Performance

NYSE HES opened at $139.79 on Friday. The business’s 50-day moving average price is $134.54 and its 200 day moving average price is $145.82. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The firm has a market cap of $43.07 billion, a P/E ratio of 16.25 and a beta of 1.15. Hess Co. has a 52-week low of $123.79 and a 52-week high of $167.75.

Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (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 business 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 earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, equities research analysts expect that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s payout ratio is 23.26%.

Analyst Ratings Changes

HES has been the subject of a number of research reports. Susquehanna dropped their target price on shares of Hess from $151.00 to $149.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets raised their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Piper Sandler dropped their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. 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, UBS Group dropped their target price on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.92.

Hess Company 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.