Quantbot Technologies LP Buys 18,977 Shares of Hess Co. (NYSE:HES)

Quantbot Technologies LP lifted its stake in Hess Co. (NYSE:HES) by 170.7% during the first quarter, Holdings Channel reports. The fund owned 30,096 shares of the oil and gas producer’s stock after acquiring an additional 18,977 shares during the quarter. Quantbot Technologies LP’s holdings in Hess were worth $4,594,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HES. Manchester Capital Management LLC lifted its stake in shares of Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock worth $779,000 after buying an additional 68 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 77 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Hess by 10.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after acquiring an additional 80 shares during the period. Drive Wealth Management LLC grew its position in shares of Hess by 1.8% in the first quarter. Drive Wealth Management LLC now owns 4,527 shares of the oil and gas producer’s stock valued at $691,000 after purchasing an additional 81 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Hess by 1.5% in the first quarter. Pinnacle Associates Ltd. now owns 5,537 shares of the oil and gas producer’s stock worth $845,000 after purchasing an additional 81 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HES has been the subject of several recent analyst reports. Citigroup increased their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Scotiabank lowered their price objective on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a research note on Friday. Susquehanna boosted their target price on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Mizuho increased their price target on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Finally, Piper Sandler boosted their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $178.17.

Hess Price Performance

Shares of NYSE:HES traded up $0.64 during midday trading on Friday, reaching $148.38. 1,201,322 shares of the company’s stock were exchanged, compared to its average volume of 2,436,019. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. The company’s 50 day simple moving average is $150.59 and its two-hundred day simple moving average is $149.03. Hess Co. has a 12 month low of $131.61 and a 12 month high of $167.75. The firm has a market capitalization of $45.72 billion, a PE ratio of 22.72 and a beta of 1.16.

Hess (NYSE:HES) last announced 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 net margin of 17.41% and a return on equity of 22.73%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. Equities research analysts expect that Hess Co. will post 10.52 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio (DPR) is 26.80%.

About Hess

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.