Hess Corporation (NYSE:HES) Shares Purchased by Pictet North America Advisors SA

Pictet North America Advisors SA lifted its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,754 shares of the oil and gas producer's stock after purchasing an additional 3,040 shares during the quarter. Hess comprises about 1.1% of Pictet North America Advisors SA's investment portfolio, making the stock its 29th largest position. Pictet North America Advisors SA's holdings in Hess were worth $11,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp acquired a new stake in Hess in the fourth quarter valued at $25,000. Global X Japan Co. Ltd. grew its stake in 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 acquiring an additional 103 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Hess during the fourth quarter worth about $33,000. Rialto Wealth Management LLC acquired a new stake in shares of Hess in the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. increased 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 worth $39,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Trading Up 1.7%

Shares of HES traded up $2.42 during mid-day trading on Wednesday, hitting $143.57. The company had a trading volume of 1,418,897 shares, compared to its average volume of 1,810,731. Hess Corporation has a 1-year low of $123.79 and a 1-year high of $161.69. The business's 50-day simple moving average is $135.21 and its 200-day simple moving average is $139.90. The stock has a market cap of $44.41 billion, a PE ratio of 19.86 and a beta of 0.62. 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 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 firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company earned $3.16 earnings per share. The company's quarterly revenue was down 12.1% on a year-over-year basis. Sell-side analysts forecast that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Insider Buying and Selling at Hess

In related news, CEO John B. Hess sold 250,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 1,734,679 shares of the company's stock, valued at approximately $235,933,690.79. This represents a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HES has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on Hess from $193.00 to $184.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Scotiabank dropped their price objective on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research report on Friday, April 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. Wall Street Zen raised shares of Hess from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, UBS Group lifted their price target on shares of Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.86.

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.