Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Hess Co. (NYSE:HES)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Hess Co. (NYSE:HESFree Report) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 272,829 shares of the oil and gas producer’s stock after purchasing an additional 18,879 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Hess worth $40,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HES. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hess by 6.9% in 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 buying an additional 8,439 shares in the last quarter. Arvest Investments Inc. purchased a new position in shares of Hess during the fourth quarter worth about $1,407,000. Alpine Associates Management Inc. acquired a new stake in shares of Hess during the fourth quarter worth about $237,100,000. Exchange Traded Concepts LLC lifted its holdings in shares of Hess by 1,456.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after purchasing an additional 7,022 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Hess in the 4th quarter valued at about $967,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The disclosure for this sale can be found here. In the last three months, insiders sold 155,798 shares of company stock valued at $22,811,166. Company insiders own 9.76% of the company’s stock.

Hess Price Performance

Hess stock traded down $1.76 during mid-day trading on Wednesday, reaching $156.72. The company had a trading volume of 2,415,638 shares, compared to its average volume of 2,613,823. The stock’s 50-day simple moving average is $154.17 and its 200-day simple moving average is $147.19. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10. The company has a market capitalization of $48.29 billion, a P/E ratio of 23.94 and a beta of 1.24.

Hess (NYSE:HESGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. Hess’s revenue was up 36.2% on a year-over-year basis. On average, equities analysts predict that Hess Co. will post 9.54 EPS for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 1.12%. Hess’s payout ratio is 26.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HES shares. StockNews.com started coverage on shares of Hess in a report on Saturday. They issued a “sell” rating on the stock. Susquehanna increased their target price on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Mizuho boosted their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Piper Sandler increased their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $177.83.

Get Our Latest Stock Analysis on Hess

Hess Company Profile

(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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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