Thompson Siegel & Walmsley LLC Buys 6,678 Shares of Hess Co. (NYSE:HES)

Thompson Siegel & Walmsley LLC raised its position in shares of Hess Co. (NYSE:HES) by 14.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,475 shares of the oil and gas producer’s stock after acquiring an additional 6,678 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Hess were worth $7,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Treasurer of the State of North Carolina grew its holdings in 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 period. TD Asset Management Inc boosted its stake in Hess by 14.4% in the 4th 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 in the last quarter. Clearbridge Investments LLC grew its position in Hess by 136.1% during the 4th quarter. Clearbridge Investments LLC now owns 690,526 shares of the oil and gas producer’s stock valued at $99,546,000 after purchasing an additional 398,089 shares during the last quarter. Tidal Investments LLC increased its stake in Hess by 59.9% during the 1st quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after purchasing an additional 10,053 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in Hess by 774.8% in the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock worth $75,351,000 after buying an additional 462,953 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Up 0.7 %

Shares of HES opened at $128.57 on Monday. The business’s 50 day moving average is $139.71 and its 200 day moving average is $147.53. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. Hess Co. has a 12-month low of $123.79 and a 12-month high of $167.75. The company has a market capitalization of $39.61 billion, a PE ratio of 19.69 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating 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 revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Research analysts expect that Hess Co. will post 11.04 earnings per share for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is 30.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Hess from $193.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. BMO Capital Markets lowered shares of Hess to an “overweight” rating and reduced their price target for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Scotiabank decreased their price target 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. Finally, Wolfe Research began coverage on shares of Hess in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hess has an average rating of “Hold” and a consensus price target of $174.00.

Hess Company 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.