Fiduciary Alliance LLC Lowers Holdings in Hess Co. (NYSE:HES)

Fiduciary Alliance LLC lowered its position in shares of Hess Co. (NYSE:HES - Free Report) by 28.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,011 shares of the oil and gas producer's stock after selling 5,978 shares during the quarter. Fiduciary Alliance LLC's holdings in Hess were worth $2,323,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hess by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer's stock worth $18,737,000 after acquiring an additional 8,439 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Hess by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer's stock valued at $17,781,000 after buying an additional 1,210 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Hess by 14.4% in the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer's stock valued at $14,464,000 after buying an additional 12,649 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Hess in the 4th quarter valued at approximately $237,100,000. Finally, Arvest Investments Inc. acquired a new stake in shares of Hess in the 4th quarter valued at approximately $1,407,000. Institutional investors and hedge funds own 88.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho increased their price objective on Hess from $205.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, May 13th. StockNews.com initiated coverage on Hess in a report on Friday. They issued a "hold" rating for the company. Susquehanna raised their price target on Hess from $164.00 to $167.00 and gave the company a "neutral" rating in a report on Thursday, May 16th. Citigroup raised their price target on Hess from $145.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, June 5th. Finally, Piper Sandler raised their price target on Hess from $172.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $177.83.

Hess Price Performance

Shares of NYSE HES traded down $0.02 during mid-day trading on Friday, reaching $147.52. The company had a trading volume of 3,361,421 shares, compared to its average volume of 1,865,898. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. Hess Co. has a one year low of $129.12 and a one year high of $167.75. The firm has a market cap of $45.45 billion, a price-to-earnings ratio of 22.59 and a beta of 1.19. The business's 50-day simple moving average is $152.63 and its 200 day simple moving average is $148.94.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 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 for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter last year, the business earned $1.13 earnings per share. Hess's revenue was up 36.2% on a year-over-year basis. On average, research analysts predict that Hess Co. will post 10.28 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, June 14th. Hess's dividend payout ratio (DPR) is presently 26.80%.

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.