Hess Corporation (NYSE:HES) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its holdings in Hess Corporation (NYSE:HES - Free Report) by 14.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,092 shares of the oil and gas producer's stock after purchasing an additional 2,857 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Hess were worth $3,529,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Global X Japan Co. Ltd. lifted its position in Hess by 106.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 103 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Hess during the 4th quarter valued at about $33,000. Wayfinding Financial LLC purchased a new position in shares of Hess during the 1st quarter valued at about $33,000. Zions Bancorporation N.A. raised its stake 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 valued at $39,000 after buying an additional 203 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Hess during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 88.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HES. UBS Group increased their price objective on Hess from $163.00 to $173.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Mizuho decreased their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Scotiabank raised their price objective on shares of Hess from $146.58 to $155.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Susquehanna reduced their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price target 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $162.78.

Hess Stock Performance

Shares of NYSE:HES traded up $11.34 on Tuesday, hitting $160.31. The company had a trading volume of 104,703 shares, compared to its average volume of 1,863,440. Hess Corporation has a 1-year low of $123.79 and a 1-year high of $161.69. The stock has a market cap of $49.59 billion, a price-to-earnings ratio of 22.17 and a beta of 0.62. The stock has a 50 day moving average price of $139.83 and a 200 day moving average price of $141.53. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm's quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 EPS. Analysts expect that Hess Corporation will post 8.08 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, June 16th. Hess's payout ratio is 27.66%.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 250,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $136.01, for a total value of $34,002,500.00. Following the completion of the sale, the chief executive officer owned 1,734,679 shares in the company, valued at approximately $235,933,690.79. The trade was 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. Insiders own 9.10% of the company's stock.

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.