OneDigital Investment Advisors LLC Makes New Investment in Hess Corporation (NYSE:HES)

OneDigital Investment Advisors LLC purchased a new position in shares of Hess Corporation (NYSE:HES - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,311 shares of the oil and gas producer's stock, valued at approximately $369,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HES. Proficio Capital Partners LLC purchased a new position in Hess during the fourth quarter worth about $15,165,000. Raymond James Financial Inc. purchased a new position in Hess during the fourth quarter worth about $31,225,000. Independent Advisor Alliance purchased a new position in Hess during the fourth quarter worth about $240,000. AGF Management Ltd. boosted its holdings in Hess by 18.5% during the fourth quarter. AGF Management Ltd. now owns 19,120 shares of the oil and gas producer's stock worth $2,543,000 after purchasing an additional 2,986 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Hess by 13.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,982 shares of the oil and gas producer's stock worth $530,000 after purchasing an additional 476 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HES. UBS Group boosted their target price on shares of Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Wall Street Zen raised shares of Hess from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Mizuho reduced their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler increased their target price on shares of Hess from $147.00 to $153.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Susquehanna reduced their target price 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $163.70.

Insider Buying and Selling

In related news, CEO John B. Hess sold 250,000 shares of the firm's 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 transaction, the chief executive officer directly owned 1,734,679 shares of the company's stock, valued at approximately $235,933,690.79. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.10% of the company's stock.

Hess Stock Performance

HES traded up $1.24 on Friday, hitting $153.28. The company's stock had a trading volume of 2,784,093 shares, compared to its average volume of 1,842,505. The company's 50 day simple moving average is $137.73 and its 200-day simple moving average is $140.74. The firm has a market cap of $47.41 billion, a P/E ratio of 21.20 and a beta of 0.62. 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.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hess had a return on equity of 21.78% and a net margin of 17.65%. The firm's quarterly revenue was down 12.1% on a year-over-year basis. During the same period last year, the business posted $3.16 earnings per share. Analysts forecast that Hess Corporation will post 8.08 EPS for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, June 16th. Hess's dividend payout ratio (DPR) is presently 27.66%.

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.