Calamos Wealth Management LLC Increases Stock Position in Hess Co. (NYSE:HES)

Calamos Wealth Management LLC raised its position in Hess Co. (NYSE:HES) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,555 shares of the oil and gas producer’s stock after acquiring an additional 531 shares during the quarter. Calamos Wealth Management LLC’s holdings in Hess were worth $5,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HES. Alpine Associates Management Inc. bought a new stake in shares of Hess in the 4th quarter worth approximately $237,100,000. KRYGER CAPITAL Ltd purchased a new position in Hess during the 4th quarter valued at $110,423,000. Water Island Capital LLC purchased a new position in Hess during the 4th quarter valued at $76,714,000. Bank of Nova Scotia raised its holdings in Hess by 774.8% in the 4th quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock worth $75,351,000 after purchasing an additional 462,953 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Hess by 1,284.5% in the 4th quarter. ING Groep NV now owns 434,646 shares of the oil and gas producer’s stock worth $62,659,000 after purchasing an additional 403,253 shares during the period. 88.51% of the stock is owned by institutional investors.

Hess Stock Up 1.5 %

Shares of HES traded up $2.05 on Friday, hitting $138.18. 648,482 shares of the stock traded hands, compared to its average volume of 2,306,679. Hess Co. has a one year low of $130.35 and a one year high of $167.75. The company has a market capitalization of $42.57 billion, a PE ratio of 21.16 and a beta of 1.16. The business has a 50 day simple moving average of $144.17 and a 200 day simple moving average of $148.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.10 and a current ratio of 1.27.

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 analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. As a group, equities analysts forecast that Hess Co. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HES shares. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Susquehanna decreased their target price on Hess from $166.00 to $151.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Wolfe Research initiated coverage on Hess in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup increased their price objective on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Finally, Scotiabank dropped their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $175.77.

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.