Nissay Asset Management Corp Japan ADV Boosts Stake in Hess Co. (NYSE:HES)

Nissay Asset Management Corp Japan ADV increased its stake in shares of Hess Co. (NYSE:HES) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 33,113 shares of the oil and gas producer’s stock after buying an additional 299 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Hess were worth $4,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HES. J.Safra Asset Management Corp purchased a new position in shares of Hess during the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in Hess in the 4th quarter valued at approximately $27,000. Millstone Evans Group LLC purchased a new position in Hess in the 4th quarter valued at approximately $33,000. Rialto Wealth Management LLC purchased a new position in Hess in the 4th quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. boosted its position in Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction 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 sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by company insiders.

Hess Price Performance

Hess stock opened at $134.86 on Friday. The stock has a market cap of $41.71 billion, a P/E ratio of 14.98 and a beta of 0.61. The company has a fifty day simple moving average of $139.25 and a 200-day simple moving average of $141.34. Hess Co. has a 12-month low of $123.79 and a 12-month high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. Hess’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period last year, the firm posted $3.16 earnings per share. Equities analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 1.48%. Hess’s dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

HES has been the subject of several recent research reports. Mizuho decreased their price target on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research report on Tuesday. Piper Sandler decreased their price target on shares of Hess from $151.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com initiated coverage on shares of Hess in a research report on Tuesday. They issued a “hold” rating for the company. Susquehanna decreased their price target on shares of Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Scotiabank decreased their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research 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 stock. According to data from MarketBeat, Hess has a consensus rating of “Moderate Buy” and a consensus target price of $162.16.

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.