Bayesian Capital Management LP Invests $1.94 Million in Hess Co. (NYSE:HES)

Bayesian Capital Management LP acquired a new position in shares of Hess Co. (NYSE:HES) in the first quarter, HoldingsChannel reports. The fund acquired 12,702 shares of the oil and gas producer’s stock, valued at approximately $1,939,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Hess in the 1st quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Hess in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. acquired a new stake in Hess in the 4th quarter valued at $32,000. Riverview Trust Co acquired a new stake in Hess in the 1st quarter valued at $36,000. Finally, Mather Group LLC. acquired a new stake in Hess in the 1st quarter valued at $52,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on HES shares. Wolfe Research started coverage on Hess in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler increased their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Susquehanna decreased their price objective on shares of Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Mizuho upped their price objective 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. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $178.58.

Hess Stock Up 2.0 %

Shares of HES stock traded up $2.92 during trading hours on Tuesday, hitting $151.68. 624,126 shares of the company were exchanged, compared to its average volume of 2,357,142. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. Hess Co. has a one year low of $131.61 and a one year high of $167.75. The business’s 50-day simple moving average is $148.69 and its two-hundred day simple moving average is $149.59. The stock has a market capitalization of $46.73 billion, a price-to-earnings ratio of 22.96 and a beta of 1.16.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.4375 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.15%. Hess’s payout ratio is currently 26.80%.

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.