Intech Investment Management LLC Has $2 Million Stake in Hess Co. (NYSE:HES)

Intech Investment Management LLC reduced its stake in shares of Hess Co. (NYSE:HES) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,129 shares of the oil and gas producer’s stock after selling 80 shares during the quarter. Intech Investment Management LLC’s holdings in Hess were worth $2,004,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. purchased a new stake in shares of Hess during the fourth quarter worth $237,100,000. KRYGER CAPITAL Ltd acquired a new position in Hess in the fourth quarter worth approximately $110,423,000. Water Island Capital LLC bought a new position in Hess during the fourth quarter valued at approximately $76,714,000. Bank of Nova Scotia lifted its stake in Hess by 774.8% in the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after acquiring an additional 462,953 shares during the last quarter. Finally, ING Groep NV grew its position in Hess by 1,284.5% in the fourth quarter. ING Groep NV now owns 434,646 shares of the oil and gas producer’s stock worth $62,659,000 after acquiring an additional 403,253 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Trading Down 1.8 %

Shares of NYSE:HES traded down $2.83 during trading on Friday, hitting $152.61. 1,725,592 shares of the company’s stock were exchanged, compared to its average volume of 1,679,122. The firm has a 50-day moving average price of $149.73 and a two-hundred day moving average price of $149.30. Hess Co. has a 1-year low of $131.61 and a 1-year high of $167.75. The firm has a market cap of $47.02 billion, a P/E ratio of 23.37 and a beta of 1.16. 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 announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm’s revenue was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. Equities analysts predict that Hess Co. will post 10.98 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is currently 26.80%.

Analysts Set New Price Targets

HES has been the subject of a number of recent research reports. Piper Sandler upped their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $166.00 to $172.00 in a research report on Wednesday. StockNews.com began coverage on Hess in a report on Friday, June 28th. They issued a “hold” rating for the company. Wolfe Research began coverage on shares of Hess in a research report on Thursday. They set a “peer perform” rating on the stock. Finally, Citigroup increased their price objective on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $178.67.

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.