Envestnet Portfolio Solutions Inc. Sells 3,180 Shares of Hess Co. (NYSE:HES)

Envestnet Portfolio Solutions Inc. decreased its holdings in Hess Co. (NYSE:HES) by 46.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,686 shares of the oil and gas producer’s stock after selling 3,180 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Hess were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its position in shares of Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after acquiring an additional 72 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock valued at $528,000 after purchasing an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 85 shares during the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Hess by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Hess by 18.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HES. StockNews.com started coverage on shares of Hess in a research note on Wednesday. They issued a “hold” rating for the company. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group increased their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup boosted their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Hess Trading Up 0.7 %

Shares of NYSE:HES opened at $158.51 on Wednesday. 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 Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The business has a 50 day moving average of $147.22 and a two-hundred day moving average of $141.32. The company has a market capitalization of $48.87 billion, a PE ratio of 17.61 and a beta of 1.21.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, analysts forecast that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. Hess’s dividend payout ratio is presently 22.22%.

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.