Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in Hess Co. (NYSE:HES)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Hess Co. (NYSE:HES) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,287 shares of the oil and gas producer’s stock after acquiring an additional 2,553 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hess were worth $4,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HES. New Covenant Trust Company N.A. acquired a new stake in Hess during the 1st quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Hess during the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Hess in the first quarter valued at approximately $27,000. Cape Investment Advisory Inc. purchased a new stake in Hess in the 4th quarter worth approximately $32,000. Finally, Riverview Trust Co acquired a new stake in shares of Hess during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Down 0.0 %

Shares of NYSE HES opened at $138.06 on Friday. The stock has a market cap of $42.54 billion, a PE ratio of 21.14 and a beta of 1.16. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.78. Hess Co. has a 12-month low of $130.35 and a 12-month high of $167.75. The company has a 50-day moving average of $143.47 and a 200 day moving average of $148.73.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts predict that Hess Co. will post 11.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Scotiabank lowered their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. BMO Capital Markets lowered Hess to an “overweight” rating and dropped their price objective for the company from $175.00 to $160.00 in a report on Monday, August 19th. Finally, StockNews.com initiated coverage on Hess in a research note on Friday, June 28th. They set a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.77.

Hess Company 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.