Mirae Asset Global Investments Co. Ltd. Has $2.98 Million Holdings in Hess Co. (NYSE:HES)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Hess Co. (NYSE:HES) by 40.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,806 shares of the oil and gas producer’s stock after purchasing an additional 6,542 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Hess were worth $2,978,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd increased its stake in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Hess in the third quarter worth $37,000. Eastern Bank purchased a new stake in shares of Hess during the third quarter worth $48,000. LRI Investments LLC boosted its position in Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 217 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in Hess in the third quarter valued at about $55,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Up 0.7 %

Hess stock opened at $142.99 on Monday. The firm has a market cap of $44.06 billion, a price-to-earnings ratio of 15.89 and a beta of 1.17. The firm has a fifty day moving average price of $140.23 and a two-hundred day moving average price of $138.96. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, analysts forecast that Hess Co. will post 7.69 earnings per share for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Hess’s payout ratio is 22.22%.

Insider Buying and Selling

In related news, CEO John B. Hess sold 125,000 shares of Hess stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the sale, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at $32,047,849.52. This trade represents a 36.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HES. Citigroup raised their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. UBS Group raised their price objective on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com began coverage on shares of Hess in a research report on Thursday. They issued a “hold” rating for the company. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Finally, Susquehanna lifted their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.50.

Hess 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.