Hess Corporation (NYSE:HES) Shares Purchased by 44 Wealth Management LLC

44 Wealth Management LLC grew its holdings in Hess Corporation (NYSE:HES - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,358 shares of the oil and gas producer's stock after buying an additional 1,822 shares during the quarter. 44 Wealth Management LLC's holdings in Hess were worth $1,335,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HES. Avantax Advisory Services Inc. raised its holdings in Hess by 1.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock valued at $528,000 after acquiring an additional 73 shares during the last quarter. Kentucky Retirement Systems increased its stake in Hess by 0.4% in the first quarter. Kentucky Retirement Systems now owns 19,073 shares of the oil and gas producer's stock valued at $3,047,000 after purchasing an additional 80 shares during the last quarter. Stonegate Investment Group LLC lifted its position in Hess by 4.1% during the first quarter. Stonegate Investment Group LLC now owns 2,444 shares of the oil and gas producer's stock worth $390,000 after buying an additional 96 shares during the period. Wealth Alliance Advisory Group LLC boosted its stake in Hess by 2.5% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 4,111 shares of the oil and gas producer's stock worth $657,000 after buying an additional 100 shares during the last quarter. Finally, Global X Japan Co. Ltd. grew its holdings in Hess by 106.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 103 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HES. UBS Group raised their target price on shares of Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Scotiabank decreased their price target on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Susquehanna dropped their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Hess from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hess presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.86.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hess Stock Down 0.8%

Hess stock traded down $1.11 during trading on Friday, reaching $142.42. 696,543 shares of the company's stock were exchanged, compared to its average volume of 1,806,686. Hess Corporation has a 52-week low of $123.79 and a 52-week high of $161.69. The firm has a market cap of $44.05 billion, a price-to-earnings ratio of 19.70 and a beta of 0.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 1.08. The company's 50-day moving average is $135.68 and its two-hundred day moving average is $139.97.

Hess (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Hess had a return on equity of 21.78% and a net margin of 17.65%. Hess's quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 EPS. On average, analysts predict that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, June 16th. Hess's payout ratio is currently 27.66%.

About Hess

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.