Avitas Wealth Management LLC Reduces Holdings in Hess Co. (NYSE:HES)

Avitas Wealth Management LLC lessened its holdings in Hess Co. (NYSE:HES) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,049 shares of the oil and gas producer’s stock after selling 95 shares during the period. Avitas Wealth Management LLC’s holdings in Hess were worth $2,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Hess in the 4th quarter valued at approximately $2,274,000. Czech National Bank raised its holdings in shares of Hess by 6.4% in the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock worth $7,971,000 after acquiring an additional 3,625 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Hess by 20.8% in the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock valued at $169,767,000 after acquiring an additional 208,996 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Hess during the third quarter valued at $1,052,000. Finally, Mizuho Securities USA LLC increased its position in Hess by 295.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 84,277 shares of the oil and gas producer’s stock worth $11,445,000 after purchasing an additional 62,966 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Hess stock opened at $142.86 on Wednesday. The company has a market cap of $44.02 billion, a price-to-earnings ratio of 15.87 and a beta of 1.17. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The stock’s 50-day moving average is $140.56 and its 200-day moving average is $139.09.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 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%. Equities analysts anticipate that Hess Co. will post 7.69 earnings per share for the current year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. 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 (DPR) is 22.22%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. StockNews.com assumed coverage on Hess in a report on Wednesday, January 29th. They issued a “hold” rating for the company. Susquehanna raised their price objective on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Scotiabank lifted their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hess has an average rating of “Moderate Buy” and an average price target of $170.50.

Insider Activity at Hess

In other news, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. 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 Hess stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares in the company, valued at $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 three months, insiders sold 314,370 shares of company stock worth $45,856,309. Corporate insiders own 9.76% of the company’s stock.

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.