Samson Rock Capital LLP Sells 320,000 Shares of Hess Corporation (NYSE:HES)

Samson Rock Capital LLP reduced its position in Hess Corporation (NYSE:HES - Free Report) by 50.0% during the first quarter, according to its most recent 13F filing with the SEC. 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 about 95.3% of Samson Rock Capital LLP's portfolio, making the stock its largest position. Samson Rock Capital LLP owned approximately 0.10% of Hess worth $51,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. raised its stake in Hess by 106.2% in 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 purchased a new stake in shares of Hess during the fourth quarter worth about $33,000. Wayfinding Financial LLC acquired a new position in shares of Hess during the first quarter valued at about $33,000. Zions Bancorporation N.A. raised its position 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 during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in Hess in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Performance

Shares of NYSE HES traded up $0.66 during midday trading on Thursday, reaching $151.54. 1,565,882 shares of the stock were exchanged, compared to its average volume of 1,835,414. 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 firm has a market cap of $46.87 billion, a price-to-earnings ratio of 20.96 and a beta of 0.62. The firm has a 50-day simple moving average of $136.86 and a two-hundred day simple moving average of $140.43. Hess Corporation has a twelve month low of $123.79 and a twelve month high of $161.69.

Hess (NYSE:HES - Get Free Report) last released its quarterly 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). Hess had a net margin of 17.65% and a return on equity of 21.78%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The firm's quarterly revenue was down 12.1% compared to the same quarter last year. As a group, analysts anticipate that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, June 16th. Hess's dividend payout ratio (DPR) is presently 27.66%.

Analyst Ratings Changes

A number of research analysts have issued reports 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 research note on Friday, April 11th. UBS Group upped their target price on Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Piper Sandler lifted their price target on Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. 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. Finally, Wells Fargo & Company reduced their price objective on Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.86.

Insider Buying and Selling at Hess

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 in the company, valued at approximately $235,933,690.79. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

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.