Hess Corporation (NYSE:HES) Stock Holdings Lifted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in shares of Hess Corporation (NYSE:HESFree Report) by 429.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,316 shares of the oil and gas producer’s stock after acquiring an additional 8,369 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hess were worth $1,648,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HES. J.Safra Asset Management Corp acquired a new stake in Hess during the 4th quarter valued at $25,000. Global X Japan Co. Ltd. raised its stake in Hess by 106.2% during 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 purchasing an additional 103 shares during the period. Millstone Evans Group LLC acquired a new stake in Hess during the 4th quarter valued at $33,000. Rialto Wealth Management LLC acquired a new stake in Hess during the 4th quarter valued at $37,000. Finally, Zions Bancorporation N.A. raised its stake in Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 203 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Trading Down 0.8%

Shares of NYSE:HES opened at $139.06 on Friday. The stock has a market capitalization of $43.01 billion, a PE ratio of 19.23 and a beta of 0.62. Hess Corporation has a 1 year low of $123.79 and a 1 year high of $161.69. The firm has a fifty day moving average price of $134.75 and a 200 day moving average price of $139.92. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71.

Hess (NYSE:HESGet 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). 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 company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.16 earnings per share. Analysts expect that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, June 16th. Hess’s dividend payout ratio is presently 27.66%.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 250,000 shares of the company’s stock in a transaction dated 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 now directly owns 1,734,679 shares in the company, valued at $235,933,690.79. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the topic of several recent analyst reports. 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. Piper Sandler dropped their price target on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Scotiabank dropped their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Mizuho dropped their price target on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price target on shares of Hess from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.26.

View Our Latest Analysis on Hess

Hess Profile

(Free Report)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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