Hess Corporation (HES) Position Raised by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Hess Corporation (NYSE:HES) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,796 shares of the company’s stock after buying an additional 1,573 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Hess Corporation were worth $2,348,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in HES. MSI Financial Services Inc increased its stake in shares of Hess Corporation by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock worth $144,000 after buying an additional 1,410 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Hess Corporation during the second quarter worth approximately $155,000. Advisor Partners LLC purchased a new stake in shares of Hess Corporation during the second quarter worth approximately $212,000. BOKF NA increased its stake in shares of Hess Corporation by 27.4% in the second quarter. BOKF NA now owns 3,542 shares of the company’s stock worth $212,000 after buying an additional 761 shares during the last quarter. Finally, Advisor Group Inc. purchased a new stake in shares of Hess Corporation during the second quarter worth approximately $236,000. Hedge funds and other institutional investors own 82.87% of the company’s stock.
Shares of Hess Corporation (NYSE:HES) traded up 0.297% during trading on Friday, hitting $59.025. 4,042,728 shares of the company’s stock were exchanged. The firm’s market capitalization is $18.49 billion. The stock’s 50 day moving average is $60.78 and its 200 day moving average is $54.60. Hess Corporation has a 1-year low of $32.41 and a 1-year high of $65.56.
Hess Corporation (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.12. The company earned $1.20 billion during the quarter, compared to analyst estimates of $1.31 billion. Hess Corporation had a negative net margin of 63.18% and a negative return on equity of 7.51%. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.03) EPS. On average, equities research analysts forecast that Hess Corporation will post ($5.08) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, December 15th. Hess Corporation’s dividend payout ratio is currently -9.47%.
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A number of equities research analysts recently commented on the stock. Nomura restated a “hold” rating and issued a $56.00 price objective on shares of Hess Corporation in a research report on Monday, October 3rd. KLR Group raised their price objective on shares of Hess Corporation from $62.00 to $68.00 and gave the company an “accumulate” rating in a research report on Tuesday, December 13th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Hess Corporation in a research report on Monday, October 31st. J P Morgan Chase & Co upgraded shares of Hess Corporation from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $65.00 in a research report on Thursday, December 8th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $64.00 price target on shares of Hess Corporation in a research report on Monday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Hess Corporation currently has a consensus rating of “Hold” and an average price target of $63.48.
In related news, insider Brian D. Truelove sold 5,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $47.41, for a total transaction of $237,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory P. Hill sold 2,951 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total transaction of $152,802.78. The disclosure for this sale can be found here. 11.83% of the stock is currently owned by insiders.
About Hess Corporation
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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