Wealth Enhancement Advisory Services LLC Has $807,000 Stake in Hess Co. (NYSE:HES)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Hess Co. (NYSE:HES) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,941 shares of the oil and gas producer’s stock after selling 123 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Hess were worth $807,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in Hess by 20.0% during the first quarter. Private Advisor Group LLC now owns 9,969 shares of the oil and gas producer’s stock valued at $1,522,000 after buying an additional 1,663 shares during the period. Larson Financial Group LLC increased its holdings in shares of Hess by 231.5% in the 1st quarter. Larson Financial Group LLC now owns 663 shares of the oil and gas producer’s stock valued at $101,000 after purchasing an additional 463 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Hess in the first quarter worth approximately $1,001,000. Avidian Wealth Solutions LLC acquired a new stake in shares of Hess during the first quarter worth approximately $206,000. Finally, Advisory Alpha LLC purchased a new position in Hess during the first quarter valued at approximately $250,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Trading Up 2.3 %

Shares of HES stock opened at $142.57 on Thursday. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a market cap of $43.93 billion, a PE ratio of 16.62 and a beta of 1.15. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $135.48 and its two-hundred day moving average is $143.78.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. Equities analysts predict that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Hess’s payout ratio is presently 23.31%.

Analysts Set New Price Targets

A number of research firms have issued reports on HES. Scotiabank increased their target price on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Susquehanna lifted their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets upped their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Piper Sandler lowered their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, UBS Group cut their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Hess presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

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.