Pullen Investment Management LLC Has $1.93 Million Holdings in Hess Co. (NYSE:HES)

Pullen Investment Management LLC boosted its stake in Hess Co. (NYSE:HES) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,178 shares of the oil and gas producer’s stock after acquiring an additional 201 shares during the period. Hess accounts for 1.4% of Pullen Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Pullen Investment Management LLC’s holdings in Hess were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Modera Wealth Management LLC acquired a new stake in Hess during the third quarter worth approximately $213,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Hess by 22.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,264 shares of the oil and gas producer’s stock valued at $2,173,000 after purchasing an additional 3,025 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in Hess by 57.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 11,074 shares of the oil and gas producer’s stock worth $1,477,000 after buying an additional 4,020 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Hess by 15.0% in the third quarter. Assenagon Asset Management S.A. now owns 11,864 shares of the oil and gas producer’s stock worth $1,611,000 after acquiring an additional 1,548 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in Hess by 20.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 66,619 shares of the oil and gas producer’s stock valued at $9,047,000 after buying an additional 11,522 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Down 0.3 %

Shares of Hess stock opened at $138.02 on Friday. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $135.45 and its 200 day moving average is $144.68. The company has a market cap of $42.53 billion, a price-to-earnings ratio of 21.14 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Research analysts anticipate that Hess Co. will post 10.22 EPS for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is currently 30.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their price target for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Citigroup reduced their target price on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. UBS Group lowered their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Monday, September 30th. Finally, BMO Capital Markets increased their price objective on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

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.