Hess Co. (NYSE:HES) Short Interest Update
Hess Co. (NYSE:HES – Get Free Report) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,870,000 shares, an increase of 36.3% from the October 31st total of 2,840,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 2,870,000 shares, the short-interest ratio is presently 1.3 days.
Institutional Investors Weigh In On Hess
Institutional investors and hedge funds have recently modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Hess by 3.6% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,100 shares of the oil and gas producer’s stock worth $1,373,000 after acquiring an additional 349 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Hess by 1.2% during the 2nd quarter. Nordea Investment Management AB now owns 15,749 shares of the oil and gas producer’s stock worth $2,124,000 after acquiring an additional 188 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Hess by 5.0% during the 2nd quarter. Great Lakes Advisors LLC now owns 5,376 shares of the oil and gas producer’s stock worth $731,000 after acquiring an additional 258 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Hess by 314.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 366,989 shares of the oil and gas producer’s stock worth $48,567,000 after acquiring an additional 278,511 shares during the last quarter. Finally, Manchester Capital Management LLC purchased a new position in Hess during the 1st quarter worth $1,323,000. 81.72% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on HES shares. Raymond James reissued a “market perform” rating on shares of Hess in a research report on Tuesday, October 24th. Mizuho boosted their price objective on shares of Hess from $175.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. Piper Sandler boosted their price objective on shares of Hess from $167.00 to $169.00 and gave the company an “overweight” rating in a research report on Monday, October 9th. Susquehanna reissued a “neutral” rating and set a $160.00 price objective (down previously from $197.00) on shares of Hess in a research report on Thursday, October 26th. Finally, Citigroup upped their target price on shares of Hess from $155.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $173.06.
Check Out Our Latest Research Report on Hess
Hess Price Performance
Hess stock traded up $0.51 during midday trading on Friday, reaching $141.07. 6,123,515 shares of the stock traded hands, compared to its average volume of 3,507,948. The stock’s fifty day moving average is $149.11 and its 200-day moving average is $145.74. Hess has a 12 month low of $113.82 and a 12 month high of $167.75. The stock has a market cap of $43.33 billion, a P/E ratio of 27.18 and a beta of 1.46. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.90.
Hess (NYSE:HES – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.40. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.68 billion. Hess had a return on equity of 18.06% and a net margin of 14.94%. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. As a group, equities research analysts anticipate that Hess will post 5.28 EPS for the current year.
Hess Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, September 15th. Hess’s dividend payout ratio is currently 33.72%.
Hess Company Profile (Get Free Report)
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.
Further Reading
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Original: MarketBeat News Feed: Hess Co. (NYSE:HES) Short Interest Update