Empirical Finance LLC Sells 675 Shares of Hess Co. (NYSE:HES)

Empirical Finance LLC decreased its holdings in Hess Co. (NYSE:HES) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,234 shares of the oil and gas producer’s stock after selling 675 shares during the quarter. Empirical Finance LLC’s holdings in Hess were worth $1,362,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HES. New Covenant Trust Company N.A. acquired a new position in Hess during the 1st quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Hess during the fourth quarter worth about $27,000. Rise Advisors LLC acquired a new position in shares of Hess in the first quarter worth approximately $27,000. Cape Investment Advisory Inc. bought a new stake in Hess in the fourth quarter valued at approximately $32,000. Finally, Riverview Trust Co acquired a new stake in Hess during the 1st quarter valued at approximately $36,000. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

HES opened at $138.06 on Friday. Hess Co. has a 1 year low of $130.35 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $42.54 billion, a price-to-earnings ratio of 21.14 and a beta of 1.16. The firm’s fifty day moving average price is $143.63 and its two-hundred day moving average price is $148.77.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of Hess in a research report on Friday, June 28th. They issued a “hold” rating on the stock. UBS Group dropped their target price on shares of Hess from $193.00 to $192.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Susquehanna cut their price target on shares of Hess from $166.00 to $151.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Mizuho lifted their price objective on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Wolfe Research started coverage on Hess in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hess currently has an average rating of “Hold” and an average price target of $175.77.

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.