MUFG Securities EMEA plc Makes New $20.90 Million Investment in Hess Co. (NYSE:HES)

MUFG Securities EMEA plc purchased a new position in Hess Co. (NYSE:HES) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 144,999 shares of the oil and gas producer’s stock, valued at approximately $20,903,000. Hess accounts for about 1.2% of MUFG Securities EMEA plc’s portfolio, making the stock its 22nd largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Alpine Associates Management Inc. purchased a new stake in shares of Hess in the fourth quarter worth $237,100,000. Invesco Ltd. increased its stake in shares of Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares in the last quarter. FMR LLC increased its stake in shares of Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after purchasing an additional 889,122 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Hess by 703.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,007,485 shares of the oil and gas producer’s stock worth $154,146,000 after purchasing an additional 882,045 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Hess by 19.9% in the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock worth $451,572,000 after purchasing an additional 489,169 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now owns 33,581 shares in the company, valued at approximately $5,073,417.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the sale, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated Wednesday, March 20th. The shares were 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 of the company’s stock, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HES shares. Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Susquehanna raised their target price on shares of Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. StockNews.com began coverage on shares of Hess in a research note on Sunday, May 19th. They set a “sell” rating for the company. Finally, Mizuho raised their target price on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hess has an average rating of “Hold” and a consensus target price of $178.08.

Hess Price Performance

Shares of NYSE:HES traded up $1.11 on Friday, reaching $151.39. The company’s stock had a trading volume of 1,652,913 shares, compared to its average volume of 2,666,763. Hess Co. has a 52-week low of $124.27 and a 52-week high of $167.75. The company has a market cap of $46.64 billion, a P/E ratio of 23.18 and a beta of 1.24. The company has a 50-day simple moving average of $155.34 and a 200 day simple moving average of $147.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business’s revenue was up 36.2% on a year-over-year basis. During the same period last year, the company posted $1.13 EPS. As a group, equities research analysts anticipate that Hess Co. will post 9.55 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.16%. Hess’s dividend payout ratio (DPR) is presently 26.80%.

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.