JOHN B HESS, the Chief Executive Officer of Hess Corp ($HES), sold 54,328 shares of the company on 11-06-2024. We received data on the trade from a recent SEC filing. This was a sale of approximately 0.7% of their shares. Following this trade, they now own 7,718,147 shares of Hess Corp stock.

Hess Corp Insider Trading Activity

Hess Corp insiders have traded $HES stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here's a breakdown of recent trading of $HES stock by insiders over the last 6 months:

• JOHN B HESS (Chief Executive Officer) has traded it 11 times. They made 0 purchases and 11 sales, selling 543,679 shares.
• GREGORY P. HILL (COO and President, E&P) has traded it 2 times. They made 0 purchases and 2 sales, selling 62,871 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Hess Corp Hedge Fund Activity

We have seen 362 institutional investors add shares of Hess Corp stock to their portfolio, and 409 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• ADAGE CAPITAL PARTNERS GP, L.L.C. added 3,184,523 shares (+58.4%) to their portfolio in Q2 2024
• FAYEZ SAROFIM & CO removed 2,657,530 shares (-56.6%) from their portfolio in Q2 2024
• BLACKROCK INC. added 2,513,430 shares (+11.1%) to their portfolio in Q2 2024
• LAURION CAPITAL MANAGEMENT LP added 2,342,320 shares (+inf%) to their portfolio in Q2 2024
• HBK INVESTMENTS L P removed 2,218,000 shares (-26.7%) from their portfolio in Q2 2024
• WELLINGTON MANAGEMENT GROUP LLP added 2,046,417 shares (+648.8%) to their portfolio in Q2 2024
• CITADEL ADVISORS LLC removed 1,992,991 shares (-21.3%) from their portfolio in Q2 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Should I Buy $HES Stock?

The bull case for Hess Corporation ($HES) centers on its strong financial foundation, highlighted by substantial net proved reserves of 1.4 billion barrels of oil equivalent and an impressive average production rate of 391 thousand barrels per day, predominantly from oil and natural gas liquids. This robust asset base and operational performance, coupled with a slight increase in standalone net asset value to $172 per share, suggest significant growth potential and boost investor confidence in the company's future prospects. Furthermore, the potential acquisition by Chevron (CVX) in 2024 could enhance shareholder value if realized, reinforcing the optimistic outlook. In contrast, the bear case emphasizes the inherent risks faced by Hess, including reliance on volatile industry fundamentals such as fluctuating oil and gas prices and changing customer demand, which may adversely affect revenues and earnings. Additionally, should the CVX acquisition not materialize, it could lead to downward pressure on Hess's stock, compounded by competitive market dynamics and potential unforeseen challenges in management or finance that could negatively impact overall investor sentiment and valuation.

Background on $HES Stock

Hess Corporation is a global independent energy company engaged in the exploration and production of crude oil and natural gas. Headquartered in New York City, Hess operates in various regions, including the United States, Guyana, and the North Sea, focusing on high-quality resource areas. The company is known for its significant investments in the development of new oil fields, particularly in the offshore sector, and aims to leverage advanced technology to maximize recovery and minimize environmental impact. In addition to its upstream operations, Hess also has a growing portfolio in renewable energy initiatives, reflecting a commitment to sustainability and transitioning towards greener energy solutions.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.