Mediolanum International Funds Ltd Invests $1 Million in Hess Co. (NYSE:HES)

Mediolanum International Funds Ltd acquired a new stake in Hess Co. (NYSE:HES) in the first quarter, HoldingsChannel.com reports. The fund acquired 6,650 shares of the oil and gas producer’s stock, valued at approximately $1,001,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Hess in the 4th quarter valued at approximately $27,000. Rise Advisors LLC purchased a new stake in shares of Hess during the 1st quarter worth $27,000. Sound Income Strategies LLC purchased a new stake in shares of Hess during the 4th quarter worth $29,000. Cape Investment Advisory Inc. acquired a new position in shares of Hess during the 4th quarter worth $32,000. Finally, Riverview Trust Co purchased a new position in shares of Hess in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Trading Up 1.3 %

HES traded up $1.90 during trading on Wednesday, hitting $147.68. The company’s stock had a trading volume of 1,103,142 shares, compared to its average volume of 2,439,854. Hess Co. has a twelve month low of $131.61 and a twelve month high of $167.75. The stock has a market cap of $45.50 billion, a PE ratio of 22.34 and a beta of 1.16. The firm’s 50 day moving average price is $150.98 and its 200-day moving average price is $149.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10.

Hess (NYSE:HES) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. On average, analysts expect that Hess Co. will post 10.22 earnings per share for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.4375 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.18%. Hess’s dividend payout ratio is presently 26.80%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HES. StockNews.com assumed coverage on shares of Hess in a report on Friday, June 28th. They issued a “hold” rating for the company. Susquehanna boosted their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Piper Sandler raised their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Citigroup boosted their price objective on shares of 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 shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.83.

Hess Company 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.