Nissay Asset Management Corp Japan ADV Acquires 299 Shares of Hess Co. (NYSE:HES)

Nissay Asset Management Corp Japan ADV increased its holdings in shares of Hess Co. (NYSE:HES) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,113 shares of the oil and gas producer’s stock after purchasing an additional 299 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Hess were worth $4,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in Hess by 46.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock valued at $389,787,000 after acquiring an additional 927,093 shares during the last quarter. Symmetry Investments LP raised its holdings in shares of Hess by 154.1% in the fourth quarter. Symmetry Investments LP now owns 1,381,076 shares of the oil and gas producer’s stock worth $183,697,000 after buying an additional 837,662 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Hess by 6.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer’s stock worth $1,521,499,000 after buying an additional 698,866 shares during the last quarter. TIG Advisors LLC raised its holdings in shares of Hess by 101.2% during the fourth quarter. TIG Advisors LLC now owns 927,331 shares of the oil and gas producer’s stock worth $123,344,000 after purchasing an additional 466,518 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its position in Hess by 30.5% during the fourth quarter. Hudson Bay Capital Management LP now owns 1,652,543 shares of the oil and gas producer’s stock valued at $219,805,000 after buying an additional 386,223 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Performance

HES opened at $134.86 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $41.71 billion, a PE ratio of 14.98 and a beta of 0.61. The firm’s 50-day moving average price is $139.25 and its 200 day moving average price is $141.34. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69.

Hess (NYSE:HES) last announced its quarterly 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). The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.16 EPS. As a group, sell-side analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. Hess’s dividend payout ratio is currently 27.66%.

Analyst Upgrades and Downgrades

HES has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho dropped their target price on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research report on Tuesday. Susquehanna dropped their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Scotiabank lowered their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hess has an average rating of “Moderate Buy” and an average price target of $162.16.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.10% 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.