Private Advisor Group LLC Has $2.05 Million Stock Position in Hess Co. (NYSE:HES)

Private Advisor Group LLC raised its position in shares of Hess Co. (NYSE:HES) by 21.5% in the 3rd quarter, Holdings Channel reports. The firm owned 15,126 shares of the oil and gas producer’s stock after acquiring an additional 2,673 shares during the period. Private Advisor Group LLC’s holdings in Hess were worth $2,054,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HES. Manchester Capital Management LLC grew 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 worth $779,000 after buying an additional 68 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of 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 last quarter. Quent Capital LLC grew its stake in shares of Hess by 7.3% during the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 73 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Hess by 16.9% during the second quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock worth $80,000 after buying an additional 78 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Hess by 10.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 80 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on HES shares. StockNews.com started coverage on shares of Hess in a research note on Friday, October 25th. They set a “hold” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Susquehanna boosted their price objective on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets boosted their price objective 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. Finally, Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $166.00 to $172.00 in a research note on Wednesday, July 17th. Six 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 company presently has an average rating of “Moderate Buy” and an average target price of $164.00.

Hess Stock Performance

Shares of HES opened at $134.63 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $41.48 billion, a P/E ratio of 15.65 and a beta of 1.15. The firm’s fifty day simple moving average is $135.40 and its two-hundred day simple moving average is $144.31. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

Hess (NYSE:HES) last issued 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 net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, analysts predict that Hess Co. will post 10.22 EPS for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is currently 23.26%.

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.