The Manufacturers Life Insurance Company Has $41.45 Million Holdings in Hess Co. (NYSE:HES)

The Manufacturers Life Insurance Company decreased its holdings in shares of Hess Co. (NYSE:HESFree Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,545 shares of the oil and gas producer’s stock after selling 17,026 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Hess were worth $41,453,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HES. FMR LLC boosted its stake in shares of Hess by 2.4% during the 3rd quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after buying an additional 889,122 shares during the last quarter. Invesco Ltd. boosted 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 purchasing an additional 1,105,204 shares during the last quarter. Morgan Stanley grew its stake in Hess by 19.9% in the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock valued at $451,572,000 after purchasing an additional 489,169 shares in the last quarter. Northern Trust Corp increased its position in shares of Hess by 1.5% during the 3rd quarter. Northern Trust Corp now owns 2,866,681 shares of the oil and gas producer’s stock worth $438,602,000 after purchasing an additional 42,802 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Hess by 18.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,975,360 shares of the oil and gas producer’s stock worth $302,230,000 after purchasing an additional 307,281 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling

In other Hess 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 transaction, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on HES shares. Mizuho increased their price target 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. Susquehanna lifted their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Piper Sandler increased their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. StockNews.com started coverage on Hess in a report on Tuesday. They set a “sell” rating for the company. Finally, Citigroup upped their price objective on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and a consensus target price of $177.83.

Get Our Latest Report on HES

Hess Stock Performance

Shares of NYSE:HES opened at $147.04 on Thursday. Hess Co. has a 12-month low of $129.05 and a 12-month high of $167.75. The company’s 50 day moving average price is $155.32 and its two-hundred day moving average price is $148.14. The firm has a market cap of $45.30 billion, a PE ratio of 22.52 and a beta of 1.19. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HESGet Free Report) last posted 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 firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company’s revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. Equities research analysts predict that Hess Co. will post 9.55 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.19%. Hess’s dividend payout ratio is 26.80%.

Hess Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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