CIBRA Capital Ltd Has $27.74 Million Holdings in Hess Corporation (NYSE:HES)

CIBRA Capital Ltd grew its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 61.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,658 shares of the oil and gas producer's stock after acquiring an additional 65,967 shares during the period. Hess comprises approximately 9.5% of CIBRA Capital Ltd's holdings, making the stock its 4th biggest position. CIBRA Capital Ltd owned 0.06% of Hess worth $27,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in Hess by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 113,287 shares of the oil and gas producer's stock valued at $18,095,000 after purchasing an additional 5,528 shares during the last quarter. Manning & Napier Advisors LLC grew its holdings in Hess by 79.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 30,610 shares of the oil and gas producer's stock worth $4,889,000 after buying an additional 13,511 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after acquiring an additional 82,703 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Hess by 14.7% in the fourth quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock worth $44,300,000 after purchasing an additional 42,797 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Hess by 76.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,188 shares of the oil and gas producer's stock worth $1,089,000 after purchasing an additional 3,541 shares in the last quarter. Institutional investors own 88.51% of the company's stock.

Insider Activity

In other Hess news, CEO John B. Hess sold 250,000 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction 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 Stock Up 1.7%

HES stock traded up $2.42 during trading hours on Wednesday, hitting $143.57. The company's stock had a trading volume of 1,418,897 shares, compared to its average volume of 1,810,731. The company has a market capitalization of $44.41 billion, a PE ratio of 19.86 and a beta of 0.62. The stock has a 50 day moving average price of $135.21 and a two-hundred day moving average price of $139.90. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.71. Hess Corporation has a 12 month low of $123.79 and a 12 month high of $161.69.

Hess (NYSE:HES - Get Free Report) last posted 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). Hess had a return on equity of 21.78% and a net margin of 17.65%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The company's quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities research analysts expect that Hess Corporation will post 8.08 earnings per share for the current 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 1.39%. The ex-dividend date of this dividend was Monday, June 16th. Hess's payout ratio is 27.66%.

Wall Street Analyst Weigh In

HES has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Susquehanna dropped their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. UBS Group lifted their target price on Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Scotiabank dropped their target price 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. Finally, Piper Sandler raised 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.86.

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.