Gateway Investment Advisers LLC Cuts Stake in Hess Co. (NYSE:HES)

Gateway Investment Advisers LLC trimmed its position in shares of Hess Co. (NYSE:HESFree Report) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 26,658 shares of the oil and gas producer’s stock after selling 74 shares during the period. Gateway Investment Advisers LLC’s holdings in Hess were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HES. Pacific Capital Wealth Advisors Inc. purchased a new stake in Hess during the 4th quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in Hess during the 1st quarter valued at about $27,000. Sound Income Strategies LLC purchased a new stake in Hess during the 4th quarter valued at about $29,000. Cape Investment Advisory Inc. purchased a new stake in Hess during the 4th quarter valued at about $32,000. Finally, Orion Capital Management LLC purchased a new stake in Hess during the 3rd quarter valued at about $33,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on HES shares. Citigroup upped their target price on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Piper Sandler upped their target price on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. StockNews.com started coverage on shares of Hess in a research note on Thursday, June 20th. They set a “sell” rating on the stock. Mizuho upped their target price on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Susquehanna upped their target price on shares of Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Hess has a consensus rating of “Hold” and a consensus price target of $177.83.

Read Our Latest Stock Report on Hess

Hess Trading Down 0.5 %

HES traded down $0.70 during trading on Tuesday, reaching $149.67. The company had a trading volume of 393,691 shares, compared to its average volume of 2,507,543. The stock has a market cap of $46.11 billion, a P/E ratio of 23.03 and a beta of 1.20. The business has a 50 day simple moving average of $152.93 and a 200-day simple moving average of $148.58. Hess Co. has a 52 week low of $129.12 and a 52 week high of $167.75. 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 (NYSE:HESGet Free Report) last issued 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 company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company earned $1.13 earnings per share. Hess’s revenue was up 36.2% on a year-over-year basis. On average, equities analysts anticipate that Hess Co. will post 9.99 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.17%. Hess’s dividend payout ratio (DPR) is 26.80%.

Hess Company 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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