Freestone Capital Holdings LLC Sells 250 Shares of Hess Corporation $HES

Freestone Capital Holdings LLC reduced its position in Hess Corporation (NYSE:HES) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,594 shares of the oil and gas producer’s stock after selling 250 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Hess were worth $2,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HES. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Hess during the 1st quarter valued at 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 purchasing an additional 103 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Hess in the 1st quarter worth approximately $33,000. IMA Advisory Services Inc. acquired a new position in shares of Hess in the 1st quarter worth approximately $36,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Hess in the 4th quarter worth approximately $39,000. 88.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO John B. Hess sold 250,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were 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 $235,933,690.79. This represents a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by insiders.

Hess Stock Performance

NYSE HES opened at $160.31 on Monday. Hess Corporation has a 1 year low of $123.79 and a 1 year high of $161.69. 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 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 fifty day moving average price of $150.68 and a 200-day moving average price of $143.74.

Analysts Set New Price Targets

A number of research firms recently issued reports on HES. Piper Sandler boosted their target price on shares of Hess from $147.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 2nd. Wells Fargo & Company lowered 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. UBS Group upped their price objective on shares of Hess from $163.00 to $173.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Wall Street Zen upgraded shares of Hess from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Finally, Mizuho lowered their price objective on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Hess has an average rating of “Hold” and an average target price of $162.78.

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.