National Pension Service Grows Holdings in Hess Co. (NYSE:HES)

National Pension Service lifted its holdings in shares of Hess Co. (NYSE:HES) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 536,382 shares of the oil and gas producer’s stock after buying an additional 56,392 shares during the quarter. National Pension Service’s holdings in Hess were worth $72,841,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Hess during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares in the last quarter. Eastern Bank bought a new position in Hess during the 3rd quarter valued at about $48,000. Rothschild Investment LLC purchased a new stake in Hess during the 2nd quarter valued at $60,000. Finally, CVA Family Office LLC lifted its holdings in Hess by 31.1% in the third quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 107 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Trading Up 0.5 %

Hess stock opened at $139.35 on Wednesday. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The stock has a market cap of $42.94 billion, a PE ratio of 16.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.26. The stock has a 50-day moving average of $135.36 and a two-hundred day moving average of $143.79.

Hess (NYSE:HES) last issued its quarterly 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 for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. On average, research analysts anticipate that Hess Co. will post 9.74 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is presently 23.31%.

Analysts Set New Price Targets

A number of analysts have commented on HES shares. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Wolfe Research upgraded 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. Scotiabank boosted their target price on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Mizuho lowered their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

About Hess

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.