Van ECK Associates Corp Buys 767 Shares of Hess Co. (NYSE:HES)

Van ECK Associates Corp raised its holdings in shares of Hess Co. (NYSE:HES – Get Rating) by 31.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,214 shares of the oil and gas producer’s stock after purchasing an additional 767 shares during the period. Van ECK Associates Corp’s holdings in Hess were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HES. CIBC Asset Management Inc lifted its holdings in shares of Hess by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 27,734 shares of the oil and gas producer’s stock valued at $2,053,000 after buying an additional 1,450 shares during the period. Assenagon Asset Management S.A. raised its holdings in Hess by 155.8% during the first quarter. Assenagon Asset Management S.A. now owns 22,860 shares of the oil and gas producer’s stock valued at $2,447,000 after acquiring an additional 13,923 shares during the period. IFM Investors Pty Ltd grew its position in shares of Hess by 18.9% during the first quarter. IFM Investors Pty Ltd now owns 41,906 shares of the oil and gas producer’s stock valued at $4,486,000 after purchasing an additional 6,654 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Hess in the first quarter worth about $305,000. Finally, Phoenix Holdings Ltd. purchased a new position in Hess in the first quarter worth about $119,818,000. Hedge funds and other institutional investors own 82.51% of the company’s stock.

Insider Activity

In related news, COO Gregory P. Hill sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $116.62, for a total transaction of $1,166,200.00. Following the transaction, the chief operating officer now owns 91,635 shares in the company, valued at $10,686,473.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Hess news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of Hess stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the completion of the sale, the senior vice president now owns 95,624 shares of the company’s stock, valued at approximately $12,267,602.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Gregory P. Hill sold 10,000 shares of Hess stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $116.62, for a total transaction of $1,166,200.00. Following the completion of the sale, the chief operating officer now directly owns 91,635 shares of the company’s stock, valued at approximately $10,686,473.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,260 shares of company stock valued at $7,302,755. Insiders own 9.93% of the company’s stock.

Hess Trading Down 0.0 % Shares of HES opened at $124.60 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.55 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $38.58 billion, a P/E ratio of 26.45 and a beta of 1.61. The stock’s fifty day simple moving average is $106.69 and its 200 day simple moving average is $107.55. Hess Co. has a twelve month low of $66.20 and a twelve month high of $131.43.

Hess (NYSE:HES – Get Rating) last announced its earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.01. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.60 billion. Hess had a return on equity of 20.25% and a net margin of 15.53%. The company’s revenue was up 87.0% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. On average, equities research analysts forecast that Hess Co. will post 9.47 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on HES shares. Mizuho reduced their price objective on shares of Hess from $158.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Citigroup downgraded shares of Hess from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $100.00 in a research report on Friday, June 24th. Piper Sandler upped their price objective on shares of Hess from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 19th. Bank of America reduced their price target on shares of Hess from $180.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Finally, Morgan Stanley reduced their price target on shares of Hess from $141.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.92.

About Hess

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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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