Why Has Sumitomo Mitsui DS Asset Management Increased Its Holdings in Hess?

2 min read | February 11, 2025 10:06 PM PST | By Team Kalkine Media

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Highlights

Sumitomo Mitsui DS Asset Management increased its holdings in Hess Co. (NYSE:HES) by over 10% in the fourth quarter.

Other institutional firms, including Cassaday & Co Wealth Management LLC and Moss Adams Wealth Advisors LLC, have also adjusted their positions in Hess.

Institutional investors collectively own a significant portion of the company’s shares.

Institutional Holdings in Hess Co.

Sumitomo Mitsui DS Asset Management Company Ltd has recently expanded its stake in Hess Co. , a leading oil and gas producer. According to the latest filing with the Securities & Exchange Commission, the firm increased its holdings by more than 10% in the fourth quarter. The company now owns 32,435 shares, marking an addition of 3,078 shares in that period. The total value of this holding, based on the most recent SEC filing, exceeds $4 million.

Changes Among Other Institutional Investors

Several other institutional investors have also made adjustments to their positions in Hess. Cassaday & Co Wealth Management LLC, for example, raised its stake by over 2% in the third quarter, bringing its total ownership to 3,266 shares. Similarly, Moss Adams Wealth Advisors LLC expanded its holdings in Hess by more than 5% in the fourth quarter, now possessing 1,682 shares.

Mesirow Financial Investment Management Inc. also grew its holdings by over 6% in the third quarter. The firm now holds 1,577 shares in Hess. Covestor Ltd showed a more substantial increase, raising its position by nearly 60% in the same period, bringing its total ownership to 262 shares. Additionally, Fidelis Capital Partners LLC lifted its stake by over 6% in the third quarter, reaching 1,673 shares.

Institutional Ownership and Its Implications

Institutional investors hold a significant percentage of Hess Co.’s total shares, with figures indicating that over 88% of the company is owned by these entities. These firms frequently adjust their positions based on various factors, including performance, sector trends, and long-term strategies. The recent activity surrounding Hess suggests ongoing interest among institutional investors in the company’s standing within the energy sector.

Hess Co. (NYSE:HES) operates within the oil and gas industry, engaging in exploration and production activities. The company's strategic focus and operational developments continue to attract institutional participation, with numerous firms adjusting their holdings over time. As filings continue to emerge, changes in ownership trends may provide further insights into broader institutional sentiment toward Hess.

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