Samson Rock Capital LLP Trims Holdings in Hess Corporation (NYSE:HES)

Samson Rock Capital LLP trimmed its stake in Hess Corporation (NYSE:HES - Free Report) by 50.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,000 shares of the oil and gas producer's stock after selling 320,000 shares during the quarter. Hess makes up about 95.3% of Samson Rock Capital LLP's portfolio, making the stock its biggest holding. Samson Rock Capital LLP owned 0.10% of Hess worth $51,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HES. Global X Japan Co. Ltd. boosted its position in 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 worth $32,000 after purchasing an additional 103 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Hess during the 4th quarter worth about $33,000. Wayfinding Financial LLC bought a new stake in shares of Hess during the 1st quarter worth about $33,000. Zions Bancorporation N.A. boosted its holdings in shares of Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after buying an additional 203 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in Hess in the 4th quarter valued at about $39,000. 88.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO John B. Hess sold 250,000 shares of the company'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 transaction of $34,002,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,734,679 shares in the company, valued at $235,933,690.79. This represents a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HES shares. Wells Fargo & Company cut their price objective on shares of Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Scotiabank lifted their price target on Hess from $146.58 to $155.00 and gave the stock a "sector perform" rating in a report on Friday. Susquehanna decreased their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler increased their price objective on Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Mizuho reduced their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Hess presently has an average rating of "Moderate Buy" and a consensus price target of $163.70.

Hess Price Performance

HES stock traded up $1.24 during midday trading on Friday, reaching $153.28. The company had a trading volume of 2,784,093 shares, compared to its average volume of 1,847,765. Hess Corporation has a 1-year low of $123.79 and a 1-year high of $161.69. The stock has a 50 day moving average price of $137.31 and a 200-day moving average price of $140.58. 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 capitalization of $47.41 billion, a price-to-earnings ratio of 21.20 and a beta of 0.62.

Hess (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion during 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 quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. Equities research analysts expect that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. Hess's dividend payout ratio is currently 27.66%.

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.