AIA Group Ltd increased its holdings in Hess Co. (NYSE:HES – Get Rating) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,187 shares of the oil and gas producer’s stock after acquiring an additional 479 shares during the quarter. AIA Group Ltd’s holdings in Hess were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its stake in Hess by 86.7% in the fourth quarter. Keybank National Association OH now owns 581,549 shares of the oil and gas producer’s stock worth $43,052,000 after acquiring an additional 270,119 shares during the period. CIBC Asset Management Inc lifted its stake in Hess by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 27,734 shares of the oil and gas producer’s stock worth $2,053,000 after acquiring an additional 1,450 shares during the period. Assenagon Asset Management S.A. lifted its stake in Hess by 155.8% in the first quarter. Assenagon Asset Management S.A. now owns 22,860 shares of the oil and gas producer’s stock worth $2,447,000 after acquiring an additional 13,923 shares during the period. IFM Investors Pty Ltd lifted its stake in Hess by 18.9% in the first quarter. IFM Investors Pty Ltd now owns 41,906 shares of the oil and gas producer’s stock worth $4,486,000 after acquiring an additional 6,654 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new stake in Hess in the first quarter worth $305,000. Hedge funds and other institutional investors own 82.51% of the company’s stock.
Insider Buying and Selling at Hess
In other Hess news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the completion of the sale, the senior vice president now directly owns 95,624 shares in the company, valued at approximately $12,267,602.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.93% of the company’s stock.
Hess Price Performance
Hess (NYSE:HES – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $2.15 EPS for the quarter, topping the consensus estimate of $2.14 by $0.01. Hess had a return on equity of 20.25% and a net margin of 15.53%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the company earned $0.24 EPS. Hess’s revenue for the quarter was up 87.0% on a year-over-year basis. On average, sell-side analysts forecast that Hess Co. will post 9.41 EPS for the current year.
Hess Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.375 per share. The ex-dividend date was Tuesday, June 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.46%. Hess’s dividend payout ratio is currently 31.85%.
Analyst Ratings Changes
Several brokerages have commented on HES. Piper Sandler raised their price objective on Hess from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Tuesday, July 19th. Susquehanna Bancshares raised their price objective on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a research report on Monday, April 25th. Raymond James raised their price objective on Hess from $112.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Morgan Stanley lowered their price objective on Hess from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Finally, Barclays lowered their price objective on Hess from $153.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.92.
Hess Company 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.
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