Asset Management One Co. Ltd. Raises Stock Holdings in Hess Corporation (NYSE:HES)

Asset Management One Co. Ltd. lifted its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,287 shares of the oil and gas producer's stock after acquiring an additional 5,528 shares during the period. Asset Management One Co. Ltd.'s holdings in Hess were worth $18,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC increased its position in Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock worth $287,000 after purchasing an additional 72 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Hess by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock worth $528,000 after purchasing an additional 73 shares in the last quarter. Kentucky Retirement Systems increased its position in Hess by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 19,073 shares of the oil and gas producer's stock worth $3,047,000 after purchasing an additional 80 shares in the last quarter. Howard Capital Management Inc. increased its position in Hess by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock worth $241,000 after purchasing an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Hess by 18.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer's stock worth $84,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HES shares. Piper Sandler dropped their price objective on Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Susquehanna dropped their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Mizuho dropped their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded Hess from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Scotiabank lowered their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hess currently has an average rating of "Moderate Buy" and a consensus target price of $163.16.

Hess Stock Down 0.2%

Shares of NYSE:HES opened at $138.31 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 1.08. Hess Corporation has a 1 year low of $123.79 and a 1 year high of $161.69. The stock has a market capitalization of $42.78 billion, a P/E ratio of 19.13 and a beta of 0.62. The stock has a 50-day simple moving average of $134.39 and a 200-day simple moving average of $139.97.

Hess (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a return on equity of 21.78% and a net margin of 17.65%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the firm posted $3.16 EPS. The firm's revenue for the quarter was down 12.1% compared to the same quarter last year. Equities analysts forecast that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, June 16th. Hess's payout ratio is currently 27.66%.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 225,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $133.18, for a total transaction of $29,965,500.00. Following the transaction, the chief executive officer now directly owns 1,984,679 shares of the company's stock, valued at approximately $264,319,549.22. The trade was a 10.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.10% of the company's stock.

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.

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