Hess Corporation (NYSE:HES) Position Lifted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 156.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,496 shares of the oil and gas producer's stock after purchasing an additional 83,301 shares during the quarter. Nisa Investment Advisors LLC's holdings in Hess were worth $21,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Hess by 16,134.6% during the first quarter. GAMMA Investing LLC now owns 1,546,506 shares of the oil and gas producer's stock worth $2,470,230,000 after buying an additional 1,536,980 shares in the last quarter. Symmetry Investments LP grew its stake in Hess by 154.1% in the 4th quarter. Symmetry Investments LP now owns 1,381,076 shares of the oil and gas producer's stock worth $183,697,000 after acquiring an additional 837,662 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Hess by 6.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer's stock valued at $1,521,499,000 after acquiring an additional 698,866 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hess by 22.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,581,820 shares of the oil and gas producer's stock worth $572,124,000 after purchasing an additional 651,311 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Hess by 164.1% during the fourth quarter. Point72 Asset Management L.P. now owns 769,042 shares of the oil and gas producer's stock worth $102,290,000 after purchasing an additional 477,796 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Up 0.8%

Shares of NYSE:HES traded up $1.24 during midday trading on Friday, hitting $153.28. 2,784,093 shares of the company's stock traded hands, compared to its average volume of 1,842,505. The firm's fifty day moving average price is $137.73 and its two-hundred day moving average price is $140.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 1.08. Hess Corporation has a twelve month low of $123.79 and a twelve month high of $161.69. The company has a market cap of $47.41 billion, a PE ratio of 21.20 and a beta of 0.62.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data 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 return on equity of 21.78% and a net margin of 17.65%. The company 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 firm earned $3.16 EPS. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Monday, June 16th. Hess's dividend payout ratio is presently 27.66%.

Wall Street Analyst Weigh In

HES has been the subject of several analyst reports. Mizuho reduced their target price on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. 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 research report on Wednesday, July 2nd. Susquehanna dropped 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. Finally, UBS Group increased their price target on shares of Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hess presently has a consensus rating of "Moderate Buy" and an average target price of $163.70.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 250,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 1,734,679 shares of the company's stock, valued at approximately $235,933,690.79. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is owned by company insiders.

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.