Mediolanum International Funds Ltd Invests $1 Million in Hess Co. (NYSE:HES)

Mediolanum International Funds Ltd bought a new stake in Hess Co. (NYSE:HESFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,650 shares of the oil and gas producer’s stock, valued at approximately $1,001,000.

A number of other large investors have also made changes to their positions in HES. Belpointe Asset Management LLC purchased a new stake in Hess in the third quarter valued at about $222,000. Diversified Trust Co lifted its position in Hess by 50.2% during the 3rd quarter. Diversified Trust Co now owns 4,660 shares of the oil and gas producer’s stock worth $713,000 after acquiring an additional 1,558 shares during the period. Graham Capital Management L.P. purchased a new stake in Hess during the 3rd quarter valued at about $3,537,000. Public Sector Pension Investment Board increased its holdings in shares of Hess by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 64,351 shares of the oil and gas producer’s stock valued at $9,846,000 after purchasing an additional 7,240 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Hess by 3.8% in the third quarter. Deutsche Bank AG now owns 501,118 shares of the oil and gas producer’s stock worth $76,671,000 after purchasing an additional 18,341 shares during the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HES shares. StockNews.com assumed coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating on the stock. Susquehanna increased their price objective on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Citigroup boosted their target price on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Piper Sandler increased their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho boosted 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.83.

Read Our Latest Stock Report on HES

Hess Price Performance

Shares of NYSE HES traded up $1.90 during trading on Wednesday, hitting $147.68. The company had a trading volume of 1,103,142 shares, compared to its average volume of 2,439,854. Hess Co. has a fifty-two week low of $131.61 and a fifty-two week high of $167.75. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $150.98 and a two-hundred day simple moving average of $149.05. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of 22.34 and a beta of 1.16.

Hess (NYSE:HESGet Free Report) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, research analysts expect that Hess Co. will post 10.22 earnings per share for the current year.

Hess Announces Dividend

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

Hess Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hess (NYSE:HES)

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