J.P. Marvel Investment Advisors LLC Lowers Stake in Hess Co. (NYSE:HES)

J.P. Marvel Investment Advisors LLC cut its position in shares of Hess Co. (NYSE:HES) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,637 shares of the oil and gas producer’s stock after selling 200 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in Hess were worth $2,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment grew its holdings in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares during the period. Covestor Ltd grew its holdings in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC purchased a new stake in Hess in the third quarter valued at approximately $37,000. Eastern Bank purchased a new stake in Hess in the third quarter valued at approximately $48,000. Finally, LRI Investments LLC grew its holdings in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 217 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Hess Price Performance

HES stock opened at $146.65 on Friday. The company has a market capitalization of $45.18 billion, a PE ratio of 16.29 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average is $140.34 and its two-hundred day moving average is $138.93. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

Hess (NYSE:HES) last posted its quarterly 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%. Analysts predict that Hess Co. will post 7.69 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio is currently 22.22%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 92,894 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the transaction, the chief executive officer now directly owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.76% of the stock is owned by company insiders.

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.