Arden Trust Co Sells 136 Shares of Hess Co. (NYSE:HES)

Arden Trust Co lessened its stake in shares of Hess Co. (NYSE:HES) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,374 shares of the oil and gas producer’s stock after selling 136 shares during the quarter. Arden Trust Co’s holdings in Hess were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in Hess in the 1st quarter valued at $25,000. Pacific Capital Wealth Advisors Inc. bought a new position in Hess in the 4th quarter valued at $27,000. Rise Advisors LLC bought a new position in Hess in the 1st quarter valued at $27,000. Cape Investment Advisory Inc. bought a new position in Hess in the 4th quarter valued at $32,000. Finally, Riverview Trust Co bought a new position in Hess in the 1st quarter valued at $36,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Down 0.2 %

NYSE HES traded down $0.21 during trading hours on Wednesday, hitting $131.17. The company’s stock had a trading volume of 1,454,572 shares, compared to its average volume of 2,379,540. Hess Co. has a 52 week low of $130.35 and a 52 week high of $167.75. The company has a market capitalization of $40.41 billion, a PE ratio of 20.12 and a beta of 1.16. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.78. The company’s 50-day simple moving average is $147.42 and its two-hundred day simple moving average is $149.68.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. Research analysts anticipate that Hess Co. will post 11.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HES. Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Susquehanna lowered their target price on Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Mizuho lifted their target price on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. StockNews.com began coverage on Hess in a research note on Friday, June 28th. They issued a “hold” rating for the company. Finally, Wolfe Research initiated coverage on Hess in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hess has a consensus rating of “Hold” and a consensus target price 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.