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

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Hess Co. (NYSE:HES) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,357 shares of the oil and gas producer’s stock after acquiring an additional 1,070 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hess were worth $3,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HES. Bank of New York Mellon Corp grew its stake in Hess by 34.5% during 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 in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Hess by 76.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock valued at $227,273,000 after purchasing an additional 663,338 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Hess by 64.3% in the second 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 increased its holdings in shares of Hess by 45.6% in 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 purchasing an additional 561,832 shares during the last quarter. Finally, Sculptor Capital LP boosted its stake in Hess by 188.7% during 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 buying an additional 500,342 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Down 0.0 %

Shares of NYSE HES opened at $139.42 on Monday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $167.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 21.35 and a beta of 1.15. The business’s 50 day moving average price is $135.11 and its 200-day moving average price is $145.22.

Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. On average, sell-side analysts expect that Hess Co. will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is currently 30.63%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler decreased their price objective on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Susquehanna boosted their target price on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company lowered their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Finally, StockNews.com initiated coverage on Hess in a research note on Thursday. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average target price of $164.00.

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.