Paloma Partners Management Co Takes Position in Hess Co. (NYSE:HES)

Paloma Partners Management Co purchased a new stake in Hess Co. (NYSE:HES) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,128 shares of the oil and gas producer’s stock, valued at approximately $325,000.

Several other large investors have also modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Hess by 23.8% during the 4th quarter. Pacer Advisors Inc. now owns 21,670 shares of the oil and gas producer’s stock worth $3,124,000 after acquiring an additional 4,167 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in Hess in the 4th quarter valued at about $201,000. SeaCrest Wealth Management LLC raised its position in Hess by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 3,643 shares of the oil and gas producer’s stock valued at $528,000 after purchasing an additional 298 shares in the last quarter. Blue Trust Inc. raised its position in Hess by 19.0% in the 4th quarter. Blue Trust Inc. now owns 1,269 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 203 shares in the last quarter. Finally, Quent Capital LLC raised its position in Hess by 13.7% in the 4th quarter. Quent Capital LLC now owns 872 shares of the oil and gas producer’s stock valued at $126,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Performance

NYSE:HES traded down $1.49 during mid-day trading on Monday, reaching $148.76. 1,121,805 shares of the stock were exchanged, compared to its average volume of 2,369,177. The company has a 50 day simple moving average of $148.69 and a 200-day simple moving average of $149.59. The stock has a market capitalization of $45.83 billion, a P/E ratio of 22.78 and a beta of 1.16. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. Hess Co. has a 1 year low of $131.61 and a 1 year high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) 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 firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. Analysts anticipate that Hess Co. will post 11.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, June 14th. This represents a $1.75 dividend on an annualized basis and a yield of 1.18%. Hess’s payout ratio is 26.80%.

Analyst Ratings Changes

A number of research analysts have recently commented on HES shares. Piper Sandler increased their price objective on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Susquehanna dropped their price objective on Hess from $167.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. StockNews.com started coverage on Hess in a report on Friday, June 28th. They issued a “hold” rating on the stock. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Finally, Mizuho increased their price objective on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $178.58.

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.