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

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Hess Co. (NYSE:HES) by 46.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. J.Safra Asset Management Corp bought a new stake in Hess in the 4th quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in shares of Hess in the fourth quarter worth about $27,000. Groupama Asset Managment boosted its stake in Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 4,186 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Hess during the 3rd quarter valued at approximately $37,000. Finally, Rialto Wealth Management LLC bought a new stake in Hess in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Up 0.7 %

Shares of HES opened at $158.51 on Wednesday. The firm has a market capitalization of $48.87 billion, a P/E ratio of 17.61 and a beta of 1.21. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The firm has a fifty day moving average price of $147.22 and a 200-day moving average price of $141.32. 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 issued its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Equities research analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

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

Analyst Ratings Changes

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

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.