Tokio Marine Asset Management Co. Ltd. Has $1.23 Million Stake in Hess Co. (NYSE:HES)

Tokio Marine Asset Management Co. Ltd. increased its stake in Hess Co. (NYSE:HES) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,034 shares of the oil and gas producer’s stock after acquiring an additional 715 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Hess were worth $1,227,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Metis Global Partners LLC increased its stake in Hess by 10.6% in the third quarter. Metis Global Partners LLC now owns 11,871 shares of the oil and gas producer’s stock valued at $1,612,000 after purchasing an additional 1,137 shares in the last quarter. Huntington National Bank grew its stake in shares of Hess by 12.1% in the 3rd quarter. Huntington National Bank now owns 2,011 shares of the oil and gas producer’s stock valued at $273,000 after buying an additional 217 shares during the period. Aigen Investment Management LP increased its position in Hess by 9.8% in the 3rd quarter. Aigen Investment Management LP now owns 10,745 shares of the oil and gas producer’s stock valued at $1,459,000 after buying an additional 960 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Hess during the 3rd quarter worth approximately $496,000. Finally, Entropy Technologies LP bought a new position in Hess in the third quarter worth approximately $4,695,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Up 0.4 %

NYSE:HES opened at $145.64 on Friday. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The firm has a 50-day moving average price of $136.42 and a two-hundred day moving average price of $143.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The firm has a market cap of $44.87 billion, a price-to-earnings ratio of 16.97 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. Hess’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. On average, equities analysts expect that Hess Co. will post 9.76 earnings per share for the current fiscal year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.37%. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is presently 23.31%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. The trade was a 28.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HES shares. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Monday, September 30th. Susquehanna boosted their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Scotiabank lifted their price objective on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Mizuho lowered their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler cut their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.30.

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.