Barometer Capital Management Inc. Raises Stake in Hess Co. (NYSE:HES)

Barometer Capital Management Inc. raised its position in shares of Hess Co. (NYSE:HESFree Report) by 299.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,784 shares of the oil and gas producer’s stock after acquiring an additional 35,084 shares during the period. Hess makes up about 2.5% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Barometer Capital Management Inc.’s holdings in Hess were worth $7,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Argent Trust Co increased its position in Hess by 24.9% during the third quarter. Argent Trust Co now owns 2,110 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 420 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Hess by 30.7% in the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 75 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Hess by 4.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock worth $1,191,928,000 after purchasing an additional 303,942 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Hess by 2.4% in the third quarter. Amalgamated Bank now owns 73,754 shares of the oil and gas producer’s stock worth $11,284,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Banco Santander S.A. grew its holdings in shares of Hess by 10.0% in the third quarter. Banco Santander S.A. now owns 10,647 shares of the oil and gas producer’s stock worth $1,629,000 after purchasing an additional 966 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HES. Morgan Stanley cut their price target on shares of Hess from $166.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Susquehanna cut their price target on shares of Hess from $160.00 to $152.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. Sanford C. Bernstein lowered shares of Hess from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $189.00 to $166.00 in a research note on Thursday, November 2nd. UBS Group lowered their price objective on shares of Hess from $210.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Finally, Argus raised shares of Hess from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Hess presently has an average rating of “Hold” and a consensus target price of $172.71.

Read Our Latest Stock Analysis on HES

Hess Stock Down 0.8 %

Shares of HES stock traded down $1.22 during mid-day trading on Monday, hitting $144.74. 393,254 shares of the stock traded hands, compared to its average volume of 2,440,547. The stock has a market cap of $44.46 billion, a P/E ratio of 32.44 and a beta of 1.28. The stock’s fifty day moving average is $141.94 and its two-hundred day moving average is $148.43. Hess Co. has a 52-week low of $113.82 and a 52-week high of $167.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 1.20.

Hess (NYSE:HESGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. Equities analysts predict that Hess Co. will post 8.1 EPS for the current year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, December 15th. Hess’s payout ratio is currently 38.89%.

Hess Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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