abrdn plc Has $13.01 Million Stock Holdings in Hess Co. (NYSE:HES)

abrdn plc cut its position in Hess Co. (NYSE:HES) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,759 shares of the oil and gas producer’s stock after selling 9,520 shares during the period. abrdn plc’s holdings in Hess were worth $13,012,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Hess in the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 88 shares during the period. Eastern Bank acquired a new stake in Hess in the third quarter worth $48,000. Rothschild Investment LLC acquired a new stake in shares of Hess during the second quarter worth $60,000. Finally, CVA Family Office LLC raised its holdings in shares of Hess by 31.1% during the third quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 107 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HES. Piper Sandler dropped their price objective on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Monday, September 30th. Citigroup lowered their price target on shares of 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 on the stock in a research note on Wednesday, September 18th. Finally, Scotiabank lifted their price target on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.00.

Hess Stock Performance

Shares of HES stock opened at $137.75 on Friday. The company has a market capitalization of $42.44 billion, a price-to-earnings ratio of 16.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.26. The company has a 50-day simple moving average of $135.31 and a 200 day simple moving average of $144.07. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.26. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 EPS. On average, sell-side analysts predict that Hess Co. will post 9.74 earnings per share for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is currently 23.31%.

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.