Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in Hess Co. (NYSE:HES)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Hess Co. (NYSE:HES) by 110.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 539 shares of the oil and gas producer’s stock after acquiring an additional 283 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Hess were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. FMR LLC lifted its position in shares of Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after acquiring an additional 889,122 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hess by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after acquiring an additional 667,979 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Hess by 4.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock valued at $1,191,928,000 after acquiring an additional 303,942 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hess by 1.7% in the first quarter. Geode Capital Management LLC now owns 5,728,515 shares of the oil and gas producer’s stock valued at $756,386,000 after acquiring an additional 93,731 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after acquiring an additional 1,105,204 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Up 1.7 %

Hess stock opened at $154.35 on Friday. The business has a fifty day moving average of $149.96 and a two-hundred day moving average of $146.83. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. The firm has a market cap of $47.56 billion, a P/E ratio of 34.30 and a beta of 1.27. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts forecast that Hess Co. will post 8.09 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio is presently 38.89%.

Insiders Place Their Bets

In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hess news, CEO John B. Hess sold 73,885 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HES shares. StockNews.com started coverage on Hess in a report on Wednesday. They issued a “sell” rating on the stock. Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho lifted their target price on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Susquehanna lifted their target price on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Hess currently has a consensus rating of “Hold” and an average price target of $176.75.

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.