Hess Co. (NYSE:HES) Stake Raised by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Hess Co. (NYSE:HES) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,257 shares of the oil and gas producer’s stock after purchasing an additional 517 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Hess were worth $1,046,000 at the end of the most recent quarter.

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 in the 3rd quarter valued at $26,000. Larson Financial Group LLC acquired a new stake in Hess in the third quarter worth $30,000. Sound Income Strategies LLC bought a new stake in shares of Hess during the fourth quarter worth $29,000. Orion Capital Management LLC bought a new position in Hess in the third quarter valued at $33,000. Finally, Fortis Group Advisors LLC acquired a new stake in Hess in the third quarter valued at $46,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Performance

Shares of NYSE:HES traded down $0.46 during trading on Friday, hitting $160.99. The stock had a trading volume of 430,919 shares, compared to its average volume of 2,546,651. 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 Co. has a 12-month low of $124.27 and a 12-month high of $167.75. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 35.78 and a beta of 1.27. The stock has a 50-day simple moving average of $151.09 and a two-hundred day simple moving average of $147.20.

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, beating the consensus estimate of $1.73 by $1.43. Hess had a return on equity of 17.00% and a net margin of 12.98%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the business earned $1.13 earnings per share. Hess’s quarterly revenue was up 36.2% on a year-over-year basis. On average, equities research analysts expect that Hess Co. will post 8.62 earnings per share for the current fiscal year.

Hess Announces Dividend

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

Insider Transactions at Hess

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction on 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 in the company, valued at $5,073,417.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, COO Gregory P. Hill sold 4,708 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $680,400.16. Following the completion of the transaction, the chief operating officer now owns 125,670 shares in the company, valued at $18,161,828.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now owns 33,581 shares in the company, valued at $5,073,417.48. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock valued at $22,811,166 over the last 90 days. Corporate insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.