Stifel Financial Corp increased its stake in shares of Hess Corp. (NYSE:HES) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,045 shares of the oil and gas producer’s stock after purchasing an additional 2,309 shares during the quarter. Stifel Financial Corp’s holdings in Hess were worth $848,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Hess by 7.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 167 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Hess during the third quarter worth $134,000. Advisor Group Inc. lifted its holdings in shares of Hess by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 362 shares during the period. Point View Wealth Management Inc. acquired a new stake in Hess in the third quarter valued at $208,000. Finally, Wesbanco Bank Inc. acquired a new stake in Hess in the third quarter valued at $220,000. 89.12% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $50.00 target price on shares of Hess in a report on Thursday. Barclays reissued a “hold” rating and issued a $49.00 target price on shares of Hess in a report on Monday. Zacks Investment Research downgraded Hess from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Morgan Stanley raised their target price on Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group assumed coverage on Hess in a report on Monday, December 11th. They issued an “underperform” rating and a $38.00 target price for the company. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.12.
Hess Corp. (NYSE:HES) opened at $54.72 on Friday. The stock has a market capitalization of $17,390.00, a price-to-earnings ratio of -2.71 and a beta of 1.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.68 and a current ratio of 1.84. Hess Corp. has a one year low of $37.25 and a one year high of $60.13.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.22. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.27 billion. Hess had a negative return on equity of 9.30% and a negative net margin of 113.21%. The business’s revenue was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.12) EPS. research analysts forecast that Hess Corp. will post -4.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, December 15th. Hess’s dividend payout ratio (DPR) is presently -4.95%.
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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