Breakwater Capital Group Acquires 312 Shares of Hess Co. (NYSE:HES)

Breakwater Capital Group raised its holdings in shares of Hess Co. (NYSE:HES) by 19.2% in the second quarter, Holdings Channel.com reports. The firm owned 1,941 shares of the oil and gas producer’s stock after purchasing an additional 312 shares during the period. Breakwater Capital Group’s holdings in Hess were worth $286,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Simmons Bank bought a new position in Hess during the 2nd quarter valued at approximately $256,000. Checchi Capital Advisers LLC increased its holdings in shares of Hess by 4.7% during the second quarter. Checchi Capital Advisers LLC now owns 2,130 shares of the oil and gas producer’s stock valued at $314,000 after acquiring an additional 96 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Hess by 6.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,007 shares of the oil and gas producer’s stock worth $1,771,000 after purchasing an additional 768 shares during the last quarter. State of Michigan Retirement System boosted its stake in Hess by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 75,741 shares of the oil and gas producer’s stock worth $11,173,000 after purchasing an additional 300 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Hess by 34.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after purchasing an additional 726,631 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Performance

Shares of NYSE HES traded down $0.79 during midday trading on Wednesday, hitting $136.68. 1,098,258 shares of the company’s stock traded hands, compared to its average volume of 2,280,909. The firm has a fifty day moving average of $143.82 and a 200 day moving average of $148.84. 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 quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 20.93 and a beta of 1.16.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. On average, analysts forecast that Hess Co. will post 11.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on HES shares. Mizuho lifted their target price on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Wolfe Research assumed coverage on Hess in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Susquehanna reduced their target price on Hess from $166.00 to $151.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Scotiabank decreased their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, StockNews.com initiated coverage on Hess in a research report on Friday, June 28th. They set a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Hess currently has a consensus rating of “Hold” and an average price target of $175.77.

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.