Hess Co. (NYSE:HES) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in Hess Co. (NYSE:HES) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 7,257 shares of the oil and gas producer’s stock after acquiring an additional 517 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Hess were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in shares of Hess during the 3rd quarter worth about $26,000. Larson Financial Group LLC acquired a new position in Hess during the third quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new position in Hess during the fourth quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in shares of Hess in the third quarter valued at approximately $33,000. Finally, Fortis Group Advisors LLC acquired a new position in Hess during the third quarter worth $46,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Hess Stock Down 0.3 %

Shares of NYSE:HES traded down $0.46 on Friday, reaching $160.99. The company had a trading volume of 430,919 shares, compared to its average volume of 2,546,651. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75. The stock has a 50-day moving average price of $151.09 and a 200 day moving average price of $147.20. The stock has a market capitalization of $49.60 billion, a P/E ratio of 35.78 and a beta of 1.27. 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 (NYSE:HES) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, equities analysts expect that Hess Co. will post 8.62 EPS for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is currently 38.89%.

Insider Transactions at Hess

In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the company’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 $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO John B. Hess sold 73,885 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were 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 in the company, valued at approximately $20,234,794.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $23,433,050.88. The disclosure for this sale can be found here. Insiders have sold 155,798 shares of company stock valued at $22,811,166 in the last three months. 9.76% of the stock is owned by corporate insiders.

About Hess

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.