Zions Bancorporation National Association UT Invests $84,000 in Hess Corporation (NYSE:HES)

Zions Bancorporation National Association UT bought a new position in shares of Hess Corporation (NYSE:HES) during the 1st quarter, Holdings Channel reports. The institutional investor bought 523 shares of the oil and gas producer’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. National Bank of Canada FI raised its position in shares of Hess by 136.8% during the 1st quarter. National Bank of Canada FI now owns 764,578 shares of the oil and gas producer’s stock worth $122,126,000 after acquiring an additional 441,762 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Hess by 15.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,092 shares of the oil and gas producer’s stock worth $78,921,000 after buying an additional 67,783 shares during the last quarter. Deutsche Bank AG grew its stake in Hess by 56.7% during the 1st quarter. Deutsche Bank AG now owns 1,115,613 shares of the oil and gas producer’s stock worth $178,197,000 after buying an additional 403,792 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hess by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,934,751 shares of the oil and gas producer’s stock worth $309,038,000 after buying an additional 96,672 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in Hess by 23.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 2,991 shares of the oil and gas producer’s stock worth $478,000 after buying an additional 574 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Up 7.6%

Shares of HES stock opened at $160.31 on Tuesday. The business’s 50 day moving average is $148.62 and its two-hundred day moving average is $143.33. Hess Corporation has a twelve month low of $123.79 and a twelve month high of $161.69. The company has a market capitalization of $49.59 billion, a P/E ratio of 22.17 and a beta of 0.62. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 16th. Hess’s dividend payout ratio (DPR) is currently 27.66%.

Analyst Upgrades and Downgrades

HES has been the topic of a number of research reports. Mizuho dropped their price target on Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded Hess from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Susquehanna dropped their price target on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Scotiabank raised their price target on Hess from $146.58 to $155.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company dropped their price target on Hess from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.78.

Insider Activity 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 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 directly owned 1,734,679 shares of the company’s stock, valued at $235,933,690.79. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is owned by corporate insiders.

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.