Congress Park Capital LLC Decreases Position in Hess Co. (NYSE:HES)

Congress Park Capital LLC lessened its holdings in shares of Hess Co. (NYSE:HES) by 12.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,139 shares of the oil and gas producer’s stock after selling 984 shares during the quarter. Congress Park Capital LLC’s holdings in Hess were worth $1,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hess by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock worth $18,737,000 after acquiring an additional 8,439 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Hess by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock worth $17,781,000 after acquiring an additional 1,210 shares during the last quarter. TD Asset Management Inc raised its stake in Hess by 14.4% in the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock worth $14,464,000 after acquiring an additional 12,649 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Hess in the 4th quarter worth $237,100,000. Finally, Arvest Investments Inc. purchased a new position in Hess in the 4th quarter worth $1,407,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Price Performance

Shares of NYSE:HES traded up $1.23 during trading on Friday, reaching $148.77. 617,447 shares of the company’s stock traded hands, compared to its average volume of 2,479,676. Hess Co. has a fifty-two week low of $129.12 and a fifty-two week high of $167.75. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The firm has a market cap of $45.84 billion, a PE ratio of 22.59 and a beta of 1.19. The company has a 50-day simple moving average of $152.85 and a 200-day simple moving average of $148.68.

Hess (NYSE:HES) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm earned $1.13 EPS. The company’s quarterly revenue was up 36.2% on a year-over-year basis. As a group, analysts predict that Hess Co. will post 10.28 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s payout ratio is 26.80%.

Analyst Ratings Changes

HES has been the subject of a number of research analyst reports. Susquehanna raised their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Piper Sandler raised their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. StockNews.com began coverage on Hess in a research report on Friday. They set a “hold” rating on the stock. Citigroup increased their price target on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Finally, Mizuho increased their price target on Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $177.83.

Hess 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.