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

Thompson Siegel & Walmsley LLC lifted its holdings in Hess Co. (NYSE:HES) by 14.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,475 shares of the oil and gas producer’s stock after purchasing 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.

Several other large investors also recently bought and sold shares of HES. SCP Investment LP increased its holdings in shares of Hess by 100.0% in the 4th quarter. SCP Investment LP now owns 2,800 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 1,400 shares during the last quarter. Principal Securities Inc. bought a new stake in Hess during the fourth quarter worth approximately $65,000. Robeco Institutional Asset Management B.V. raised its position in Hess by 162.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 13,807 shares of the oil and gas producer’s stock valued at $1,990,000 after purchasing an additional 8,538 shares during the period. Kentucky Retirement Systems lifted its stake in shares of Hess by 3.4% in the 4th quarter. Kentucky Retirement Systems now owns 22,118 shares of the oil and gas producer’s stock valued at $3,189,000 after purchasing an additional 731 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Hess by 3.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,849 shares of the oil and gas producer’s stock worth $1,420,000 after purchasing an additional 300 shares during the period. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.7 %

NYSE HES opened at $128.57 on Monday. The company’s 50-day simple moving average is $139.71 and its two-hundred day simple moving average is $147.53. Hess Co. has a one year low of $123.79 and a one year high of $167.75. The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 19.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 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 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 during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Hess’s revenue was up 40.3% on a year-over-year basis. Equities analysts forecast that Hess Co. will post 11.04 EPS for the current fiscal year.

Hess Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on HES. StockNews.com assumed coverage on Hess in a research report on Friday, June 28th. They issued a “hold” rating for the company. Wolfe Research initiated coverage on shares of Hess in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group cut their price target 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. Piper Sandler decreased their price objective on shares of Hess from $173.00 to $167.00 in a research note on Friday. Finally, BMO Capital Markets lowered Hess to an “overweight” rating and dropped their target price for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $174.00.

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.