Hess Co. (NYSE:HES) Position Trimmed by US Bancorp DE

US Bancorp DE lowered its stake in Hess Co. (NYSE:HES) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,499 shares of the oil and gas producer’s stock after selling 524 shares during the period. US Bancorp DE’s holdings in Hess were worth $2,241,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Hess by 0.9% during the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares during the last quarter. Primecap Management Co. CA raised its holdings in Hess by 4.4% during the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after buying an additional 340,490 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Hess by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after buying an additional 726,631 shares during the period. Legal & General Group Plc boosted its holdings in shares of Hess by 6.6% in the second quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock worth $361,691,000 after buying an additional 150,945 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Hess by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock valued at $265,359,000 after acquiring an additional 181,459 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and upped their price target for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Piper Sandler decreased their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Mizuho dropped their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Hess Trading Up 2.3 %

Shares of NYSE:HES opened at $142.57 on Thursday. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The firm has a fifty day moving average price of $135.48 and a 200 day moving average price of $143.78. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $43.93 billion, a PE ratio of 16.62 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 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 return on equity of 27.41% and a net margin of 20.58%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 EPS. Analysts expect that Hess Co. will post 9.74 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is currently 23.31%.

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.