Envestnet Asset Management Inc. grew its holdings in shares of Hess Co. (NYSE:HES – Get Rating) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,607 shares of the oil and gas producer’s stock after buying an additional 14,108 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hess were worth $15,544,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of Hess by 44.3% during the 4th quarter. Bank of Montreal Can now owns 188,850 shares of the oil and gas producer’s stock valued at $26,828,000 after acquiring an additional 57,965 shares in the last quarter. Credit Suisse AG raised its position in shares of Hess by 8.6% during the 3rd quarter. Credit Suisse AG now owns 296,206 shares of the oil and gas producer’s stock valued at $32,283,000 after acquiring an additional 23,392 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hess by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,103,112 shares of the oil and gas producer’s stock valued at $338,218,000 after acquiring an additional 20,141 shares in the last quarter. Ieq Capital LLC raised its position in shares of Hess by 65.2% during the 3rd quarter. Ieq Capital LLC now owns 7,588 shares of the oil and gas producer’s stock valued at $827,000 after acquiring an additional 2,996 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Hess by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 5,679 shares of the oil and gas producer’s stock valued at $805,000 after acquiring an additional 308 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on HES. 92 Resources reaffirmed a “maintains” rating on shares of Hess in a research report on Friday, April 28th. Mizuho increased their target price on Hess from $163.00 to $170.00 in a research report on Friday, March 10th. Morgan Stanley raised their price target on Hess from $139.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, April 13th. Credit Suisse Group raised their price target on Hess from $125.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Finally, Citigroup raised their price target on Hess from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.94.
Hess Trading Up 0.4 %
Hess (NYSE:HES – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. Hess had a return on equity of 25.85% and a net margin of 18.47%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the company posted $1.30 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts predict that Hess Co. will post 6.03 earnings per share for the current fiscal year.
Hess Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Monday, March 13th were paid a dividend of $0.438 per share. The ex-dividend date was Friday, March 10th. This is an increase from Hess’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.28%. Hess’s dividend payout ratio (DPR) is 25.07%.
Insider Transactions at Hess
In other news, EVP Timothy B. Goodell sold 3,527 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $137.41, for a total transaction of $484,645.07. Following the completion of the sale, the executive vice president now directly owns 138,338 shares of the company’s stock, valued at approximately $19,009,024.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Richard D. Lynch sold 33,191 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $138.84, for a total value of $4,608,238.44. Following the transaction, the senior vice president now directly owns 23,622 shares of the company’s stock, valued at approximately $3,279,678.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy B. Goodell sold 3,527 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $137.41, for a total value of $484,645.07. Following the completion of the transaction, the executive vice president now directly owns 138,338 shares in the company, valued at $19,009,024.58. The disclosure for this sale can be found here. Insiders sold 53,721 shares of company stock valued at $7,391,691 in the last three months. Corporate insiders own 9.93% of the company’s stock.
About Hess
Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.
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