Summit Trail Advisors LLC Invests $373,000 in Hess Corporation (NYSE:HES)

Summit Trail Advisors LLC acquired a new stake in Hess Corporation (NYSE:HES - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,334 shares of the oil and gas producer's stock, valued at approximately $373,000.

Several other hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp bought a new position in Hess in the 4th quarter valued at $25,000. Global X Japan Co. Ltd. raised its position in shares of Hess by 106.2% in the first quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer's stock worth $32,000 after buying an additional 103 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Hess during the fourth quarter valued at $33,000. Rialto Wealth Management LLC bought a new stake in Hess during the fourth quarter valued at $37,000. Finally, Zions Bancorporation N.A. grew its position in Hess by 225.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of Hess stock opened at $143.57 on Thursday. 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 52-week low of $123.79 and a 52-week high of $161.69. The company has a fifty day moving average of $135.48 and a 200-day moving average of $139.92. The stock has a market capitalization of $44.41 billion, a price-to-earnings ratio of 19.86 and a beta of 0.62.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a return on equity of 21.78% and a net margin of 17.65%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The business's revenue for the quarter was down 12.1% on a year-over-year basis. Equities research analysts expect that Hess Corporation will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, June 16th. Hess's dividend payout ratio is presently 27.66%.

Insider Transactions 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. 9.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HES. Scotiabank lowered their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Piper Sandler raised 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. Mizuho cut their price target 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. Wells Fargo & Company decreased their price target on shares of Hess from $193.00 to $184.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Finally, Wall Street Zen raised shares of Hess from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

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