Sustainable Insight Capital Management LLC Purchases New Holdings in Hess Corporation (NYSE:HES)

Sustainable Insight Capital Management LLC acquired a new position in Hess Corporation (NYSE:HES) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,100 shares of the oil and gas producer’s stock, valued at approximately $1,454,000.

Other hedge funds also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Hess in the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. lifted its position in shares of 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 acquiring an additional 103 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Hess in the 1st quarter worth approximately $33,000. IMA Advisory Services Inc. bought a new stake in shares of Hess in the 1st quarter worth approximately $36,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of Hess in the 4th quarter worth approximately $39,000. Institutional investors own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HES. UBS Group raised their price target on shares of Hess from $163.00 to $173.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Wells Fargo & Company cut their price target on shares of Hess from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, June 26th. 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. Wall Street Zen upgraded shares of Hess from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Piper Sandler raised their price target 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $162.78.

Hess Stock Performance

NYSE HES opened at $160.31 on Tuesday. The firm has a market cap of $49.59 billion, a price-to-earnings ratio of 22.17 and a beta of 0.62. The company has a 50 day moving average of $148.62 and a 200-day moving average of $143.33. 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 Corporation has a 1-year low of $123.79 and a 1-year high of $161.69.

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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Hess’s dividend payout ratio (DPR) is presently 27.66%.

Insider Buying and Selling at Hess

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. Insiders own 9.10% of the company’s stock.

Hess Profile

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.