Mirae Asset Global Investments Co. Ltd. Has $7.71 Million Position in Hess Co. (NYSE:HES)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Hess Co. (NYSE:HES) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,447 shares of the oil and gas producer’s stock after selling 15,515 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Hess were worth $7,705,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC raised its position in Hess by 2.4% during the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after acquiring an additional 889,122 shares in the last quarter. Vanguard Group Inc. raised its position in Hess by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after acquiring an additional 667,979 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Hess by 4.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock valued at $1,191,928,000 after acquiring an additional 303,942 shares in the last quarter. Geode Capital Management LLC raised its position in Hess by 1.7% during the first quarter. Geode Capital Management LLC now owns 5,728,515 shares of the oil and gas producer’s stock valued at $756,386,000 after acquiring an additional 93,731 shares in the last quarter. Finally, Invesco Ltd. raised its position in Hess by 44.1% during the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after acquiring an additional 1,105,204 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy B. Goodell sold 2,701 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the sale, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,798 shares of company stock valued at $22,811,166. 9.93% of the stock is owned by company insiders.

Hess Trading Down 2.8 %

Shares of HES stock opened at $153.21 on Friday. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The firm’s fifty day simple moving average is $149.28 and its 200 day simple moving average is $146.86. The firm has a market capitalization of $47.20 billion, a P/E ratio of 34.05 and a beta of 1.27. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Hess’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Hess Co. will post 7.76 EPS for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is currently 38.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of Hess from $169.00 to $172.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Mizuho lifted their price target on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Susquehanna lifted their price target on shares of Hess from $152.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, StockNews.com initiated coverage on shares of Hess in a research report on Tuesday, April 9th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $176.67.

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.