Machina Capital S.A.S. Has $2.33 Million Stake in Hess Corporation (NYSE:HES)

Machina Capital S.A.S. trimmed its holdings in shares of Hess Corporation (NYSE:HES - Free Report) by 37.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,577 shares of the oil and gas producer's stock after selling 8,717 shares during the period. Machina Capital S.A.S.'s holdings in Hess were worth $2,328,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Hess in the 1st quarter worth $25,000. Global X Japan Co. Ltd. boosted its position in shares of Hess by 106.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 103 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Hess in the 1st quarter valued at $33,000. IMA Advisory Services Inc. purchased a new position in Hess in the 1st quarter worth about $36,000. Finally, Zions Bancorporation N.A. raised its holdings in Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 88.51% of the company's stock.

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 250,000 shares of Hess stock in a transaction that occurred on Friday, June 6th. The shares were 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 directly owned 1,734,679 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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 report on Tuesday, May 13th. Susquehanna reduced their price target 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. Scotiabank lifted their price objective on shares of Hess from $146.58 to $155.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Piper Sandler boosted their target price on shares of Hess from $147.00 to $153.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised Hess from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $162.78.

Hess Stock Up 7.6%

Shares of Hess stock traded up $11.34 on Friday, hitting $160.31. 104,703 shares of the company traded hands, compared to its average volume of 1,867,605. 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 company has a market cap of $49.59 billion, a PE ratio of 22.17 and a beta of 0.62. The company has a 50-day moving average price of $141.86 and a 200 day moving average price of $142.12.

Hess (NYSE:HES - Get Free Report) last issued its earnings results 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 net margin of 17.65% and a return on equity of 21.78%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter last year, the firm earned $3.16 EPS. The business's revenue for the quarter was down 12.1% compared to the same quarter last year. Sell-side analysts predict that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

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

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.