Inscription Capital LLC Takes $1.54 Million Position in Hess Corporation (NYSE:HES)

Inscription Capital LLC purchased a new stake in Hess Corporation (NYSE:HES - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,100 shares of the oil and gas producer's stock, valued at approximately $1,542,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. J.Safra Asset Management Corp acquired a new stake in shares of Hess in the 4th quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in Hess in the fourth quarter valued at approximately $27,000. Millstone Evans Group LLC acquired a new stake in Hess in the fourth quarter valued at approximately $33,000. Rialto Wealth Management LLC bought a new stake in shares of Hess during the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. raised its position in shares of Hess by 225.6% during 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 period. 88.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 650,000 shares of company stock worth $91,845,500 over the last three months. 9.10% of the stock is currently owned by insiders.

Hess Stock Up 0.6%

HES stock traded up $0.85 during trading on Friday, reaching $144.51. The stock had a trading volume of 2,690,031 shares, compared to its average volume of 1,982,113. 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 company has a market capitalization of $44.70 billion, a price-to-earnings ratio of 19.99 and a beta of 0.62. Hess Corporation has a one year low of $123.79 and a one year high of $161.69. The company's 50 day moving average is $133.36 and its two-hundred day moving average is $140.07.

Hess (NYSE:HES - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. The business's revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.16 earnings per share. Equities research analysts forecast that Hess Corporation will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, June 16th. Hess's dividend payout ratio is 27.66%.

Analyst Ratings Changes

Several research firms recently issued reports on HES. UBS Group lifted their price target on shares of Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Piper Sandler decreased their target price on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Hess from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Mizuho cut their price target on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Scotiabank decreased their price objective on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.16.

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.