AE Wealth Management LLC Has $545,000 Stock Position in Hess Corporation (NYSE:HES)

AE Wealth Management LLC lowered its position in shares of Hess Corporation (NYSE:HES) by 17.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,410 shares of the oil and gas producer’s stock after selling 718 shares during the quarter. AE Wealth Management LLC’s holdings in Hess were worth $545,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Hess by 6.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer’s stock worth $1,521,499,000 after purchasing an additional 698,866 shares in the last quarter. HBK Investments L P raised its stake in shares of Hess by 1.7% during the 4th quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer’s stock worth $962,715,000 after purchasing an additional 120,091 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer’s stock worth $888,240,000 after purchasing an additional 158,371 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Hess by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer’s stock worth $511,325,000 after purchasing an additional 91,131 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Hess by 22.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,581,820 shares of the oil and gas producer’s stock worth $572,124,000 after purchasing an additional 651,311 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HES. Wall Street Zen upgraded Hess from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. 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. Piper Sandler increased their price target on Hess from $147.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. 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. Finally, UBS Group increased their price target on Hess from $163.00 to $173.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $162.78.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the transaction, the chief executive officer owned 1,734,679 shares in the company, 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 at this hyperlink. 9.10% of the stock is owned by insiders.

Hess Stock Up 7.6%

HES stock opened at $160.31 on Wednesday. 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 stock has a market capitalization of $49.59 billion, a price-to-earnings ratio of 22.17 and a beta of 0.62. The business’s fifty day moving average price is $143.48 and its two-hundred day moving average price is $142.56. Hess Corporation has a fifty-two week low of $123.79 and a fifty-two week high of $161.69.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion for 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 firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 EPS. On average, equities analysts anticipate that Hess Corporation will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, June 16th. Hess’s payout ratio is 27.66%.

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.