Sumitomo Mitsui DS Asset Management Company Ltd Purchases 344 Shares of Hess Co. (NYSE:HES)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Hess Co. (NYSE:HES) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 25,520 shares of the oil and gas producer’s stock after buying an additional 344 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hess were worth $3,679,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hess by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after purchasing an additional 8,439 shares during the period. Arvest Investments Inc. bought a new position in shares of Hess during the fourth quarter worth $1,407,000. Exchange Traded Concepts LLC grew its stake in Hess by 1,456.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after acquiring an additional 7,022 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Hess in the 4th quarter valued at $967,000. Finally, Miller Howard Investments Inc. NY lifted its stake in Hess by 75.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock worth $5,658,000 after purchasing an additional 16,861 shares in the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HES shares. Mizuho raised their price objective on Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Susquehanna lifted their price objective on Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com initiated coverage on Hess in a research report on Wednesday, April 17th. They set a “sell” rating for the company. Finally, Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $177.42.

Insider Transactions at Hess

In related news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares in the company, valued at $7,257,071.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John P. Rielly sold 2,596 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $375,173.92. Following the sale, the chief financial officer now directly owns 335,200 shares of the company’s stock, valued at $48,443,104. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by company insiders.

Hess Stock Up 1.2 %

NYSE HES opened at $156.23 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75. The firm has a market capitalization of $48.13 billion, a price-to-earnings ratio of 34.72 and a beta of 1.27. The company has a fifty day moving average of $150.21 and a two-hundred day moving average of $146.93.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $1.78 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Hess Co. will post 8.32 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.12%. Hess’s dividend payout ratio is 38.89%.

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.