Wealth Alliance Advisory Group LLC Takes $592,000 Position in Hess Co. (NYSE:HES)

Wealth Alliance Advisory Group LLC acquired a new position in shares of Hess Co. (NYSE:HES) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,010 shares of the oil and gas producer’s stock, valued at approximately $592,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HES. Vanguard Group Inc. raised its position in shares of Hess by 0.9% during the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock worth $4,903,793,000 after purchasing an additional 294,146 shares during the period. Bank of New York Mellon Corp raised its holdings in Hess by 34.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after buying an additional 726,631 shares during the period. Alpine Associates Management Inc. bought a new position in Hess in the fourth quarter valued at approximately $237,100,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $229,969,000 after buying an additional 48,457 shares during the period. Finally, KRYGER CAPITAL Ltd increased its position in shares of Hess by 44.0% during the first quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock worth $168,394,000 after acquiring an additional 337,238 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Performance

Shares of NYSE HES opened at $138.06 on Friday. The stock’s fifty day moving average price is $143.47 and its two-hundred day moving average price is $148.77. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 21.14 and a beta of 1.16. Hess Co. has a one year low of $130.35 and a one year high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. On average, equities analysts forecast that Hess Co. will post 11.12 EPS for the current year.

Wall Street Analysts Forecast Growth

HES has been the topic of several research reports. Scotiabank cut 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 report on Friday, July 12th. StockNews.com began coverage on Hess in a report on Friday, June 28th. They issued a “hold” rating on the stock. Mizuho increased their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Wolfe Research initiated coverage on Hess in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group reduced their price target on Hess from $193.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $175.77.

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.