Hess Co. (NYSE:HES) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC lowered its stake in shares of Hess Co. (NYSE:HES) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,049 shares of the oil and gas producer’s stock after selling 95 shares during the quarter. Avitas Wealth Management LLC’s holdings in Hess were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Covestor Ltd increased its position in shares of Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Hess in the third quarter worth about $37,000. Eastern Bank bought a new stake in Hess in the third quarter valued at about $48,000. LRI Investments LLC raised its stake in Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 217 shares in the last quarter. Finally, Coastline Trust Co bought a new position in Hess during the 3rd quarter worth approximately $55,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

HES opened at $142.86 on Wednesday. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock has a market cap of $44.02 billion, a PE ratio of 15.87 and a beta of 1.17. The business’s 50 day moving average is $140.56 and its 200-day moving average is $139.09. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. On average, analysts predict that Hess Co. will post 7.69 earnings per share for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. Hess’s dividend payout ratio is presently 22.22%.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 92,894 shares of Hess stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the transaction, the chief executive officer now directly owns 229,465 shares in the company, valued at approximately $33,914,927. This trade represents a 28.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the sale, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,370 shares of company stock valued at $45,856,309. Company insiders own 9.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HES. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Susquehanna raised their price target on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup boosted their price objective on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, UBS Group raised their target price on shares of Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.50.

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.