Proficio Capital Partners LLC bought a new position in shares of Hess Co. (NYSE:HES – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 80,066 shares of the oil and gas producer’s stock, valued at approximately $80,000.
Other institutional investors have also made changes to their positions in the company. Waterfront Wealth Inc. boosted its position in shares of Hess by 6.5% during the 1st quarter. Waterfront Wealth Inc. now owns 3,818 shares of the oil and gas producer’s stock worth $505,000 after purchasing an additional 234 shares during the period. TIAA FSB lifted its stake in Hess by 11.6% during the first quarter. TIAA FSB now owns 71,977 shares of the oil and gas producer’s stock worth $9,525,000 after purchasing an additional 7,498 shares in the last quarter. HM Payson & Co. boosted its position in shares of Hess by 794.4% during the first quarter. HM Payson & Co. now owns 2,245 shares of the oil and gas producer’s stock worth $297,000 after buying an additional 1,994 shares during the period. Xponance Inc. grew its stake in shares of Hess by 1.1% in the first quarter. Xponance Inc. now owns 56,159 shares of the oil and gas producer’s stock valued at $7,432,000 after buying an additional 601 shares in the last quarter. Finally, Clarius Group LLC raised its holdings in shares of Hess by 6.6% in the 1st quarter. Clarius Group LLC now owns 3,102 shares of the oil and gas producer’s stock valued at $411,000 after buying an additional 193 shares during the period. 82.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on HES shares. Morgan Stanley lifted their target price on Hess from $156.00 to $158.00 in a research report on Monday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Hess from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 5th. 92 Resources reissued a “maintains” rating on shares of Hess in a research report on Friday, April 28th. StockNews.com assumed coverage on shares of Hess in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Raymond James increased their price objective on Hess from $170.00 to $172.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Hess has a consensus rating of “Moderate Buy” and a consensus price target of $168.75.
Hess Stock Up 1.1 %
Hess (NYSE:HES – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10. Hess had a net margin of 18.47% and a return on equity of 25.85%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the company posted $1.30 EPS. Hess’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Hess Co. will post 4.85 EPS for the current year.
Hess Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, June 14th. Hess’s dividend payout ratio is presently 25.07%.
Insiders Place Their Bets
In other news, Director Corp Hess sold 6,382,500 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $26.12, for a total value of $166,710,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.91% of the stock is currently owned by company insiders.
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.
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