Hess Corporation (NYSE:HES) Shares Sold by Samson Rock Capital LLP

Samson Rock Capital LLP trimmed its holdings in Hess Corporation (NYSE:HES - Free Report) by 50.0% in the 1st quarter, according to 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 period. Hess accounts for approximately 95.3% of Samson Rock Capital LLP's holdings, making the stock its largest position. Samson Rock Capital LLP owned about 0.10% of Hess worth $51,114,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HES. GAMMA Investing LLC raised its stake in Hess by 16,134.6% during the 1st quarter. GAMMA Investing LLC now owns 1,546,506 shares of the oil and gas producer's stock valued at $2,470,230,000 after purchasing an additional 1,536,980 shares during the last quarter. Symmetry Investments LP increased its holdings in Hess by 154.1% in the 4th quarter. Symmetry Investments LP now owns 1,381,076 shares of the oil and gas producer's stock valued at $183,697,000 after buying an additional 837,662 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Hess by 6.5% in the 4th 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 buying an additional 698,866 shares during the period. Bank of New York Mellon Corp increased its holdings in Hess by 22.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,581,820 shares of the oil and gas producer's stock valued at $572,124,000 after buying an additional 651,311 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Hess by 164.1% in the 4th quarter. Point72 Asset Management L.P. now owns 769,042 shares of the oil and gas producer's stock valued at $102,290,000 after buying an additional 477,796 shares during the period. 88.51% of the stock is owned by institutional investors.

Hess Stock Up 0.5%

Shares of NYSE:HES traded up $0.79 during midday trading on Wednesday, hitting $151.02. The stock had a trading volume of 3,866,210 shares, compared to its average volume of 1,834,840. Hess Corporation has a 12 month low of $123.79 and a 12 month high of $161.69. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.71. The business's 50-day simple moving average is $136.43 and its 200-day simple moving average is $140.36. The company has a market cap of $46.71 billion, a P/E ratio of 20.89 and a beta of 0.62.

Hess (NYSE:HES - Get Free Report) last released 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). Hess had a return on equity of 21.78% and a net margin of 17.65%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm earned $3.16 earnings per share. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that Hess Corporation will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business 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. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Hess's dividend payout ratio (DPR) is 27.66%.

Insider Buying and Selling

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 transaction, the chief executive officer directly owned 1,734,679 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HES shares. Piper Sandler upped their target price on shares of Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Scotiabank decreased their price objective 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. Susquehanna decreased their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. UBS Group increased their price objective on shares of Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company cut their price target 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.86.

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.