Mission Wealth Management LP Trims Stock Position in Hess Co. (NYSE:HES)

Mission Wealth Management LP cut its stake in shares of Hess Co. (NYSE:HES) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,780 shares of the oil and gas producer’s stock after selling 448 shares during the period. Mission Wealth Management LP’s holdings in Hess were worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in Hess by 20.0% during the 1st quarter. Private Advisor Group LLC now owns 9,969 shares of the oil and gas producer’s stock worth $1,522,000 after purchasing an additional 1,663 shares during the period. Norden Group LLC acquired a new position in Hess during the 1st quarter worth approximately $998,000. HB Wealth Management LLC increased its position in Hess by 5.0% during the 1st quarter. HB Wealth Management LLC now owns 14,542 shares of the oil and gas producer’s stock worth $2,220,000 after purchasing an additional 693 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Hess by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 322,988 shares of the oil and gas producer’s stock worth $49,301,000 after acquiring an additional 2,090 shares during the period. Finally, McCollum Christoferson Group LLC grew its holdings in shares of Hess by 0.8% in the 1st quarter. McCollum Christoferson Group LLC now owns 35,034 shares of the oil and gas producer’s stock worth $5,348,000 after acquiring an additional 285 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Trading Down 1.6 %

Shares of Hess stock traded down $2.32 during trading hours on Friday, reaching $146.88. 1,035,910 shares of the company’s stock were exchanged, compared to its average volume of 1,765,025. Hess Co. has a 52-week low of $129.12 and a 52-week high of $167.75. The firm has a market capitalization of $45.26 billion, a price-to-earnings ratio of 22.49 and a beta of 1.16. The company has a fifty day moving average of $151.55 and a 200-day moving average of $149.01. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. Sell-side analysts forecast that Hess Co. will post 10.28 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio (DPR) is currently 26.80%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HES shares. Mizuho upped their price target on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Piper Sandler upped their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Susquehanna upped their price target on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. StockNews.com initiated coverage on Hess in a research note on Friday, June 28th. They issued a “hold” rating on the stock. Finally, Citigroup upped their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.83.

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.