Sumitomo Mitsui Trust Holdings Inc. Purchases 2,231 Shares of Hess Co. (NYSE:HES)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Hess Co. (NYSE:HES) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669,137 shares of the oil and gas producer’s stock after buying an additional 2,231 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Hess were worth $98,711,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in HES. International Assets Investment Management LLC bought a new stake in Hess during the fourth quarter valued at about $13,550,000. Cerity Partners LLC boosted its position in Hess by 112.8% during the fourth quarter. Cerity Partners LLC now owns 10,287 shares of the oil and gas producer’s stock valued at $1,483,000 after purchasing an additional 5,452 shares in the last quarter. Mackenzie Financial Corp boosted its position in Hess by 85.3% during the fourth quarter. Mackenzie Financial Corp now owns 25,195 shares of the oil and gas producer’s stock valued at $3,632,000 after purchasing an additional 11,599 shares in the last quarter. SVB Wealth LLC boosted its position in Hess by 38.2% during the fourth quarter. SVB Wealth LLC now owns 4,165 shares of the oil and gas producer’s stock valued at $601,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hess by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after purchasing an additional 8,439 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.2 %

Shares of NYSE:HES opened at $136.59 on Monday. Hess Co. has a 52-week low of $130.35 and a 52-week high of $167.75. The stock has a market cap of $42.08 billion, a price-to-earnings ratio of 20.92 and a beta of 1.16. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $145.05 and a 200-day moving average price of $149.29.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. Hess’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. Equities analysts predict that Hess Co. will post 11.08 EPS for the current year.

Wall Street Analyst Weigh In

HES has been the subject of a number of research analyst reports. Susquehanna decreased their price target on Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Mizuho increased their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and increased their price target for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Scotiabank decreased their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Citigroup increased their price target on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.42.

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.