BNP Paribas Financial Markets Buys 135,494 Shares of Hess Co. (NYSE:HES)

BNP Paribas Financial Markets boosted its holdings in shares of Hess Co. (NYSE:HES) by 92.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,263 shares of the oil and gas producer’s stock after buying an additional 135,494 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.09% of Hess worth $43,085,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Hess during the first quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Hess during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC acquired a new position in Hess during the fourth quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in Hess during the third quarter worth approximately $33,000. Finally, Cape Investment Advisory Inc. acquired a new position in Hess during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Price Performance

NYSE HES traded down $2.32 on Friday, hitting $146.88. 1,035,910 shares of the company’s stock were exchanged, compared to its average volume of 1,765,025. The stock has a 50-day moving average of $151.55 and a 200-day moving average of $149.01. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. Hess Co. has a 52 week low of $129.12 and a 52 week high of $167.75. The stock has a market cap of $45.26 billion, a price-to-earnings ratio of 22.49 and a beta of 1.16.

Hess (NYSE:HES) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 36.2% on a year-over-year basis. Analysts expect that Hess Co. will post 10.28 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.4375 per share. 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 payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HES shares. Mizuho upped their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. StockNews.com started coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating on the stock. Citigroup upped their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Piper Sandler upped their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Susquehanna upped their target price on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.