Universal Beteiligungs und Servicegesellschaft mbH Has $27.57 Million Stock Position in Hess Corporation (NYSE:HES)

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Hess Corporation (NYSE:HES - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,578 shares of the oil and gas producer's stock after buying an additional 13,478 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Hess worth $27,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its holdings in Hess by 8.4% during the first quarter. Allworth Financial LP now owns 1,019 shares of the oil and gas producer's stock valued at $163,000 after acquiring an additional 79 shares during the period. Kentucky Retirement Systems lifted its position in shares of Hess by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 19,073 shares of the oil and gas producer's stock worth $3,047,000 after purchasing an additional 80 shares during the last quarter. Stonegate Investment Group LLC boosted its stake in Hess by 4.1% during the 1st quarter. Stonegate Investment Group LLC now owns 2,444 shares of the oil and gas producer's stock valued at $390,000 after purchasing an additional 96 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in Hess by 2.5% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 4,111 shares of the oil and gas producer's stock valued at $657,000 after buying an additional 100 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its position 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 worth $32,000 after buying an additional 103 shares during the period. 88.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HES. Piper Sandler raised their price objective on shares of Hess from $147.00 to $153.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company dropped their price objective 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. 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 note on Tuesday, May 13th. Scotiabank set a $155.00 price target on Hess and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded Hess from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $162.78.

Insiders Place Their Bets

In other 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 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 trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.10% of the company's stock.

Hess Price Performance

Shares of HES traded up $11.34 during mid-day trading on Friday, reaching $160.31. The company had a trading volume of 104,703 shares, compared to its average volume of 1,867,605. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market capitalization of $49.59 billion, a P/E ratio of 22.17 and a beta of 0.62. Hess Corporation has a twelve month low of $123.79 and a twelve month high of $161.69. The company's 50-day moving average is $142.37 and its 200-day moving average is $142.29.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the business posted $3.16 earnings per share. The firm's revenue was down 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Hess Corporation will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. 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.