Earnest Partners LLC Acquires 10,352 Shares of Hess Co. (NYSE:HES)

Earnest Partners LLC raised its holdings in shares of Hess Co. (NYSE:HES) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,331 shares of the oil and gas producer’s stock after acquiring an additional 10,352 shares during the period. Earnest Partners LLC’s holdings in Hess were worth $17,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HES. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hess by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock worth $18,737,000 after purchasing an additional 8,439 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Hess by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock worth $17,781,000 after purchasing an additional 1,210 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Hess by 14.4% in the fourth quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock worth $14,464,000 after purchasing an additional 12,649 shares during the last quarter. Alpine Associates Management Inc. bought a new position in shares of Hess in the fourth quarter worth approximately $237,100,000. Finally, Arvest Investments Inc. bought a new position in shares of Hess in the fourth quarter worth approximately $1,407,000. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Down 1.0 %

Hess stock traded down $1.49 on Monday, hitting $148.76. 1,121,805 shares of the stock traded hands, compared to its average volume of 2,369,177. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The firm has a market cap of $45.83 billion, a P/E ratio of 22.78 and a beta of 1.16. The business’s fifty day simple moving average is $148.83 and its 200 day simple moving average is $149.53. Hess Co. has a 1 year low of $131.61 and a 1 year high of $167.75.

Hess (NYSE:HES) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion during 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 company’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, sell-side analysts forecast that Hess Co. will post 11.08 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. This represents a $1.75 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HES shares. Susquehanna cut their target price on shares of Hess from $167.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $166.00 to $172.00 in a research note on Wednesday, July 17th. Wolfe Research began coverage on Hess in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho raised their price target on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, StockNews.com began coverage on Hess in a research note on Friday, June 28th. They issued a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $178.58.

Hess 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.