Hess Co. (NYSE:HES) Stake Raised by International Assets Investment Management LLC

International Assets Investment Management LLC increased its holdings in Hess Co. (NYSE:HES) by 14,316.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,047 shares of the oil and gas producer’s stock after acquiring an additional 130,138 shares during the period. International Assets Investment Management LLC’s holdings in Hess were worth $177,960,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Greenleaf Trust raised its stake in shares of Hess by 18.4% during the 3rd quarter. Greenleaf Trust now owns 3,739 shares of the oil and gas producer’s stock worth $508,000 after purchasing an additional 580 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Hess during the 3rd quarter worth about $408,000. Private Advisor Group LLC raised its stake in shares of Hess by 21.5% during the 3rd quarter. Private Advisor Group LLC now owns 15,126 shares of the oil and gas producer’s stock worth $2,054,000 after purchasing an additional 2,673 shares in the last quarter. Pictet North America Advisors SA purchased a new stake in shares of Hess during the 3rd quarter worth about $10,854,000. Finally, Eastern Bank purchased a new stake in shares of Hess during the 3rd quarter worth about $48,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Price Performance

Shares of NYSE:HES opened at $138.02 on Friday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The firm has a market capitalization of $42.53 billion, a PE ratio of 21.14 and a beta of 1.15. The business’s 50 day moving average is $135.42 and its 200-day moving average is $144.88. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. Hess’s revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts predict that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is 30.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HES. Mizuho lowered their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. BMO Capital Markets raised their target price on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Susquehanna raised their target price on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their target price for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on Hess in a report on Friday. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.