Mission Wealth Management LP Has $851,000 Holdings in Hess Co. (NYSE:HES)

Mission Wealth Management LP decreased its holdings in shares of Hess Co. (NYSE:HES) by 22.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,400 shares of the oil and gas producer’s stock after selling 1,891 shares during the period. Mission Wealth Management LP’s holdings in Hess were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HES. Strategic Financial Concepts LLC acquired a new stake in Hess during the 4th quarter worth $3,117,000. Manning & Napier Advisors LLC acquired a new stake in shares of Hess during the fourth quarter worth $2,274,000. Czech National Bank increased its holdings in Hess by 6.4% in the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock valued at $7,971,000 after purchasing an additional 3,625 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Hess by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after buying an additional 1,861 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Hess by 20.8% during the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after buying an additional 208,996 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Hess Stock Down 1.0 %

NYSE:HES opened at $142.64 on Wednesday. The stock has a 50-day simple moving average of $143.17 and a 200 day simple moving average of $139.79. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a market cap of $43.95 billion, a PE ratio of 15.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, sell-side analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HES has been the subject of a number of recent analyst reports. UBS Group upped their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com assumed coverage on shares of Hess in a report on Sunday. They issued a “hold” rating on the stock. Citigroup boosted their price target on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess has a consensus rating of “Moderate Buy” and an average price target of $170.60.

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.