Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Hess Co. (NYSE:HES)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Hess Co. (NYSE:HES - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,829 shares of the oil and gas producer's stock after buying an additional 18,879 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Hess worth $40,327,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in Hess during the 3rd quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Hess during the 4th quarter valued at $27,000. Sound Income Strategies LLC acquired a new stake in Hess during the 4th quarter valued at $29,000. Larson Financial Group LLC acquired a new stake in Hess during the 3rd quarter valued at $30,000. Finally, Orion Capital Management LLC acquired a new stake in Hess during the 3rd quarter valued at $33,000. Institutional investors own 88.51% of the company's stock.

Hess Stock Down 1.1 %

Shares of NYSE:HES traded down $1.76 on Wednesday, reaching $156.72. The company had a trading volume of 2,415,631 shares, compared to its average volume of 2,613,950. 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 $154.17 and a 200 day moving average price of $147.19. The stock has a market capitalization of $48.29 billion, a P/E ratio of 24.00 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES - Get Free Report) 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. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The business's quarterly revenue was up 36.2% compared to the same quarter last year. On average, equities analysts expect that Hess Co. will post 9.54 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 1.12%. Hess's dividend payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HES shares. StockNews.com assumed coverage on shares of Hess in a research note on Saturday. They set a "sell" rating on the stock. Susquehanna lifted their price objective on Hess from $156.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, April 22nd. Mizuho boosted their target price on Hess from $205.00 to $210.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Piper Sandler boosted their target price on Hess from $172.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $177.83.

Insider Buying and Selling

In related news, SVP Andrew P. Slentz sold 1,062 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now owns 50,215 shares of the company's stock, valued at approximately $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, CFO John P. Rielly sold 2,596 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $375,173.92. Following the completion of the transaction, the chief financial officer now owns 335,200 shares of the company's stock, valued at approximately $48,443,104. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the transaction, the senior vice president now directly owns 50,215 shares of the company's stock, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,798 shares of company stock valued at $22,811,166. Insiders own 9.76% of the company's stock.

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.