Adams Natural Resources Fund Inc. Has $19.04 Million Stock Holdings in Hess Co. (NYSE:HES)

Adams Natural Resources Fund Inc. cut its position in shares of Hess Co. (NYSE:HES) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,189 shares of the oil and gas producer’s stock after selling 1,800 shares during the period. Hess makes up about 2.8% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 8th biggest holding. Adams Natural Resources Fund Inc.’s holdings in Hess were worth $19,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in Hess by 1.4% during the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after buying an additional 68 shares during the last quarter. Drive Wealth Management LLC lifted its stake in shares of Hess by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after purchasing an additional 72 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Hess by 7.3% in the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 78 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Hess by 10.3% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after purchasing an additional 80 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HES shares. Scotiabank raised their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Susquehanna raised their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com began coverage on Hess in a research note on Friday, October 25th. They set a “hold” rating for the company. UBS Group decreased their price target on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $166.00 to $172.00 in a research note on Wednesday, July 17th. Six 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.com, Hess presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Hess Trading Down 1.8 %

HES opened at $134.63 on Wednesday. The stock’s fifty day moving average is $135.40 and its two-hundred day moving average is $144.31. The company has a market capitalization of $41.48 billion, a P/E ratio of 15.65 and a beta of 1.15. Hess Co. has a 52 week low of $123.79 and a 52 week 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.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.65 EPS. Hess’s quarterly revenue was up 40.3% on a year-over-year basis. Analysts forecast that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. Hess’s dividend payout ratio (DPR) is currently 23.26%.

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.