Calamos Advisors LLC Raises Stock Position in Hess Co. (NYSE:HES)

Calamos Advisors LLC lifted its stake in Hess Co. (NYSE:HES) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,326 shares of the oil and gas producer’s stock after buying an additional 15,684 shares during the period. Calamos Advisors LLC owned approximately 0.19% of Hess worth $87,085,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Hess by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares during the period. Alpine Associates Management Inc. purchased a new position in shares of Hess during the fourth quarter worth approximately $237,100,000. Charles Schwab Investment Management Inc. grew its position in shares of Hess by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,595,234 shares of the oil and gas producer’s stock worth $229,969,000 after acquiring an additional 48,457 shares during the last quarter. KRYGER CAPITAL Ltd boosted its stake in Hess by 44.0% during the 1st quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock worth $168,394,000 after purchasing an additional 337,238 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Hess by 31.7% during the 1st quarter. Clearbridge Investments LLC now owns 909,089 shares of the oil and gas producer’s stock worth $138,763,000 after purchasing an additional 218,563 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. BMO Capital Markets downgraded shares of Hess to an “overweight” rating and reduced their price objective for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Wolfe Research began coverage on Hess in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho boosted their target price on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Susquehanna dropped their price objective on Hess from $166.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average price target of $175.77.

Hess Trading Up 1.5 %

Shares of NYSE:HES traded up $2.05 during trading on Friday, reaching $138.18. The stock had a trading volume of 648,482 shares, compared to its average volume of 2,306,679. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The stock has a market cap of $42.57 billion, a P/E ratio of 21.16 and a beta of 1.16. The business has a fifty day moving average price of $144.17 and a 200-day moving average price of $148.99. Hess Co. has a fifty-two week low of $130.35 and a fifty-two week high of $167.75.

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

About Hess

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.