Greenleaf Trust Boosts Stock Position in Hess Co. (NYSE:HES)

Greenleaf Trust lifted its stake in shares of Hess Co. (NYSE:HES) by 18.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,739 shares of the oil and gas producer’s stock after buying an additional 580 shares during the quarter. Greenleaf Trust’s holdings in Hess were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HES. New Covenant Trust Company N.A. acquired a new position in Hess during the 1st quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 88 shares during the last quarter. Eastern Bank acquired a new position in Hess in the third quarter worth about $48,000. Rothschild Investment LLC bought a new stake in Hess in the second quarter valued at about $60,000. Finally, CVA Family Office LLC raised its stake in Hess by 31.1% during the third quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 107 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HES. Wells Fargo & Company lowered their price target on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. StockNews.com began coverage on shares of Hess in a research report on Friday. They issued a “hold” rating on the stock. Piper Sandler lowered their price objective on shares of Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Finally, UBS Group cut their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.00.

Hess Stock Down 0.3 %

HES opened at $138.02 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The stock’s 50 day moving average price is $135.42 and its 200 day moving average price is $144.88. The stock has a market cap of $42.53 billion, a P/E ratio of 21.14 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, research analysts predict that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Hess’s dividend payout ratio (DPR) is 30.63%.

About Hess

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.