Hess Corporation (NYSE:HES) Shares Acquired by Personal CFO Solutions LLC

Personal CFO Solutions LLC grew its stake in Hess Corporation (NYSE:HES) by 18.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,676 shares of the oil and gas producer’s stock after buying an additional 873 shares during the quarter. Personal CFO Solutions LLC’s holdings in Hess were worth $907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HES. Vanguard Group Inc. raised its holdings in Hess by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer’s stock worth $4,408,117,000 after purchasing an additional 296,406 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Hess by 6.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer’s stock valued at $1,521,499,000 after purchasing an additional 698,866 shares in the last quarter. HBK Investments L P grew its position in shares of Hess by 1.7% in the fourth quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer’s stock valued at $962,715,000 after purchasing an additional 120,091 shares in the last quarter. Geode Capital Management LLC grew its position in Hess by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer’s stock worth $888,240,000 after acquiring an additional 158,371 shares during the period. Finally, Wellington Management Group LLP grew its position in Hess by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer’s stock worth $511,325,000 after acquiring an additional 91,131 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analysts Set New Price Targets

HES has been the topic of a number of research reports. Mizuho decreased their price target on Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Susquehanna reduced their price objective on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler raised their price target on Hess from $147.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded Hess from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Hess has a consensus rating of “Moderate Buy” and a consensus target price of $162.86.

Hess Price Performance

Shares of NYSE:HES opened at $145.50 on Tuesday. The firm’s 50 day moving average is $136.07 and its two-hundred day moving average is $140.29. Hess Corporation has a 52 week low of $123.79 and a 52 week high of $161.69. The firm has a market capitalization of $45.01 billion, a P/E ratio of 20.07 and a beta of 0.62. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. Hess’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.16 EPS. Analysts anticipate that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Monday, June 16th. Hess’s payout ratio is 27.66%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of Hess stock in a transaction on Friday, June 6th. The shares were sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the completion of the sale, the chief executive officer owned 1,734,679 shares of the company’s stock, valued at $235,933,690.79. This trade represents a 12.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 9.10% of the company’s stock.

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.