Financiere des Professionnels Fonds d investissement inc. Has $9.39 Million Stock Holdings in Hess Corporation (NYSE:HES)

Financiere des Professionnels Fonds d investissement inc. lowered its stake in Hess Corporation (NYSE:HES - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,779 shares of the oil and gas producer's stock after selling 2,441 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Hess were worth $9,389,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HES. Global X Japan Co. Ltd. raised its position in shares of 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 in the last quarter. Wayfinding Financial LLC acquired a new position in Hess during the first quarter valued at approximately $33,000. Millstone Evans Group LLC bought a new stake in Hess during the fourth quarter worth $33,000. Rialto Wealth Management LLC bought a new stake in Hess during the fourth quarter worth $37,000. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Analysts Set New Price Targets

HES has been the topic of several research analyst reports. Scotiabank reduced their price objective 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. UBS Group upped their price objective 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. Wells Fargo & Company cut their target price on shares of Hess from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Susquehanna lowered their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho cut their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Hess has an average rating of "Moderate Buy" and a consensus target price of $162.86.

Hess Trading Down 1.4%

NYSE:HES traded down $2.00 during trading hours on Monday, hitting $142.03. 767,316 shares of the company were exchanged, compared to its average volume of 1,806,013. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 19.65 and a beta of 0.62. Hess Corporation has a one year low of $123.79 and a one year high of $161.69. The company has a fifty day simple moving average of $135.88 and a 200 day simple moving average of $140.18. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (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 the consensus estimate of $2.95 billion. Hess had a return on equity of 21.78% and a net margin of 17.65%. Hess's revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 earnings per share. Sell-side analysts expect that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Insider Buying and Selling at Hess

In related news, CEO John B. Hess sold 250,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $136.01, for a total value of $34,002,500.00. Following the transaction, the chief executive officer owned 1,734,679 shares in the company, valued at $235,933,690.79. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by company insiders.

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.