Sumitomo Mitsui Asset Management Company LTD decreased its position in shares of Hess Corp. (NYSE:HES) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,836 shares of the oil and gas producer’s stock after selling 2,287 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Hess were worth $941,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Linscomb & Williams Inc. increased its position in Hess by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 21,171 shares of the oil and gas producer’s stock worth $929,000 after buying an additional 71 shares during the period. Nordea Investment Management AB increased its position in Hess by 0.8% during the second quarter. Nordea Investment Management AB now owns 17,889 shares of the oil and gas producer’s stock worth $785,000 after buying an additional 141 shares during the period. Sentry Investment Management LLC increased its position in Hess by 1.1% during the second quarter. Sentry Investment Management LLC now owns 21,156 shares of the oil and gas producer’s stock worth $928,000 after buying an additional 224 shares during the period. Earnest Partners LLC increased its position in Hess by 0.7% during the second quarter. Earnest Partners LLC now owns 40,980 shares of the oil and gas producer’s stock worth $1,798,000 after buying an additional 304 shares during the period. Finally, Advisor Group Inc. increased its position in Hess by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 362 shares during the period. 90.03% of the stock is currently owned by institutional investors.
Shares of Hess Corp. (NYSE:HES) opened at $47.79 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. Hess Corp. has a 12 month low of $37.25 and a 12 month high of $55.48. The firm has a market capitalization of $15,185.46, a P/E ratio of -2.37 and a beta of 1.58.
Several research analysts have commented on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $50.00 price target on shares of Hess in a research report on Thursday, January 11th. Macquarie assumed coverage on Hess in a report on Wednesday, January 17th. They issued an “outperform” rating and a $65.00 target price on the stock. Morgan Stanley boosted their target price on Hess from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Barclays reissued a “hold” rating and issued a $49.00 target price on shares of Hess in a report on Monday, January 8th. Finally, Zacks Investment Research lowered Hess from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.40.
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Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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