Hess Corporation (NYSE:HES) Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. trimmed its position in shares of Hess Corporation (NYSE:HES - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HES. Global X Japan Co. Ltd. grew its stake in shares of Hess by 106.2% during the first 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 last quarter. Millstone Evans Group LLC bought a new position in Hess in the 4th quarter valued at $33,000. Wayfinding Financial LLC bought a new position in Hess in the 1st quarter valued at $33,000. Rialto Wealth Management LLC bought a new position in shares of Hess in the fourth quarter worth about $37,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Hess by 225.6% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Down 0.8%

NYSE HES traded down $1.11 during midday trading on Friday, hitting $142.42. 696,543 shares of the company traded hands, compared to its average volume of 1,809,781. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market cap of $44.05 billion, a PE ratio of 19.70 and a beta of 0.62. The company's 50-day simple moving average is $135.88 and its 200-day simple moving average is $140.09. Hess Corporation has a 52 week low of $123.79 and a 52 week high of $161.69.

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 for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a net margin of 17.65% and a return on equity of 21.78%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the business earned $3.16 EPS. Hess's revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Scotiabank cut 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. Mizuho dropped their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Hess from $193.00 to $184.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Piper Sandler increased their price objective on Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, UBS Group increased their price objective on Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Hess currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.86.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 250,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,734,679 shares in the company, valued at $235,933,690.79. This trade represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.10% of the company's stock.

Hess 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.