Hess Co. (NYSE:HES) Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its stake in shares of Hess Co. (NYSE:HES) by 84.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,176 shares of the oil and gas producer’s stock after selling 17,474 shares during the quarter. Entropy Technologies LP’s holdings in Hess were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in shares of Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after purchasing an additional 68 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Hess by 17.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 77 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Hess by 10.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after purchasing an additional 80 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Hess by 1.8% in the first quarter. Drive Wealth Management LLC now owns 4,527 shares of the oil and gas producer’s stock valued at $691,000 after purchasing an additional 81 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Hess by 1.5% in the first quarter. Pinnacle Associates Ltd. now owns 5,537 shares of the oil and gas producer’s stock valued at $845,000 after purchasing an additional 81 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on HES shares. Wolfe Research started coverage on shares of Hess in a research note on Thursday. They set a “peer perform” rating on the stock. Piper Sandler upped their price objective on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Scotiabank reduced 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 note on Friday, July 12th. Citigroup upped their price objective on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Finally, Mizuho upped their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Hess has a consensus rating of “Hold” and a consensus price target of $178.67.

Hess Stock Performance

NYSE:HES opened at $154.83 on Friday. 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 company has a market cap of $47.70 billion, a P/E ratio of 23.80 and a beta of 1.16. Hess Co. has a fifty-two week low of $131.61 and a fifty-two week high of $167.75. The firm’s 50 day moving average is $149.89 and its two-hundred day moving average is $149.21.

Hess (NYSE:HES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm posted $1.13 earnings per share. Hess’s revenue was up 36.2% on a year-over-year basis. Analysts expect that Hess Co. will post 10.52 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed 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 1.13%. The ex-dividend date of this dividend was Friday, June 14th. Hess’s payout ratio is currently 26.80%.

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.