Tokio Marine Asset Management Co. Ltd. Has $1.23 Million Stake in Hess Co. (NYSE:HES)

Tokio Marine Asset Management Co. Ltd. raised its holdings in Hess Co. (NYSE:HES) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,034 shares of the oil and gas producer’s stock after buying an additional 715 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Hess were worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Hess by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after acquiring an additional 726,631 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Hess by 76.4% in the second quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock valued at $227,273,000 after acquiring an additional 663,338 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Hess by 64.3% during the 2nd quarter. Bank of Montreal Can now owns 1,449,969 shares of the oil and gas producer’s stock worth $218,220,000 after purchasing an additional 567,550 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Hess by 45.6% during the second quarter. Marshall Wace LLP now owns 1,794,087 shares of the oil and gas producer’s stock worth $264,664,000 after acquiring an additional 561,832 shares during the period. Finally, Sculptor Capital LP grew its position in shares of Hess by 188.7% in the second quarter. Sculptor Capital LP now owns 765,542 shares of the oil and gas producer’s stock valued at $112,933,000 after purchasing an additional 500,342 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on HES. UBS Group decreased their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets increased their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Susquehanna lifted their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Mizuho reduced their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler dropped their price objective on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $163.30.

Hess Price Performance

Shares of HES stock opened at $145.64 on Friday. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $136.42 and a 200 day simple moving average of $143.19. The company has a market cap of $44.87 billion, a P/E ratio of 16.97 and a beta of 1.15.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. On average, sell-side analysts forecast that Hess Co. will post 9.76 EPS for the current fiscal year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Hess’s payout ratio is currently 23.31%.

Insider Activity at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares in the company, valued at $31,791,753.09. This trade represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by company insiders.

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.