Congress Park Capital LLC Sells 984 Shares of Hess Co. (NYSE:HES)

Congress Park Capital LLC cut its position in Hess Co. (NYSE:HES) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,139 shares of the oil and gas producer’s stock after selling 984 shares during the quarter. Congress Park Capital LLC’s holdings in Hess were worth $1,090,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HES. Morgan Stanley raised its position in shares of Hess by 19.9% during the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock worth $451,572,000 after acquiring an additional 489,169 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Hess by 18.4% in the third quarter. Ameriprise Financial Inc. now owns 1,975,360 shares of the oil and gas producer’s stock worth $302,230,000 after purchasing an additional 307,281 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in Hess in the fourth quarter worth approximately $237,100,000. Charles Schwab Investment Management Inc. increased its holdings in Hess by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,595,234 shares of the oil and gas producer’s stock worth $229,969,000 after purchasing an additional 48,457 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Hess by 1.1% in the third quarter. American Century Companies Inc. now owns 1,507,079 shares of the oil and gas producer’s stock worth $230,583,000 after purchasing an additional 16,867 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Performance

Shares of HES traded up $1.23 during mid-day trading on Friday, hitting $148.77. The stock had a trading volume of 617,447 shares, compared to its average volume of 2,479,676. The firm has a market cap of $45.84 billion, a P/E ratio of 22.59 and a beta of 1.19. The business has a fifty day moving average price of $152.85 and a 200-day moving average price of $148.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10. Hess Co. has a 52 week low of $129.12 and a 52 week high of $167.75.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. On average, equities research analysts expect that Hess Co. will post 10.28 EPS for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.4375 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.18%. Hess’s payout ratio is presently 26.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HES. Mizuho lifted their target price on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Citigroup raised their price objective on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Piper Sandler raised their price objective on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. StockNews.com began coverage on Hess in a research note on Friday. They issued a “hold” rating for the company. Finally, Susquehanna raised their price objective on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Hess has a consensus rating of “Hold” and an average price target of $177.83.

Hess Company 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.