Pictet North America Advisors SA Sells 13,215 Shares of Hess Co. (NYSE:HES)

Pictet North America Advisors SA lowered its holdings in shares of Hess Co. (NYSE:HES) by 16.5% during the fourth quarter, Holdings Channel reports. The firm owned 66,714 shares of the oil and gas producer’s stock after selling 13,215 shares during the period. Pictet North America Advisors SA’s holdings in Hess were worth $8,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment raised its holdings in shares of Hess by 22.7% during the 3rd 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 in the last quarter. Covestor Ltd raised its holdings in shares of Hess by 59.8% during the 3rd 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 in the last quarter. FSA Wealth Management LLC bought a new position in shares of Hess during the 3rd quarter valued at $37,000. Eastern Bank bought a new position in shares of Hess during the 3rd quarter valued at $48,000. Finally, LRI Investments LLC raised its holdings in shares of Hess by 157.2% during the 3rd 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 in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

NYSE HES opened at $145.81 on Friday. 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 firm has a market capitalization of $44.93 billion, a price-to-earnings ratio of 16.20 and a beta of 1.17. The company’s fifty day moving average is $140.22 and its two-hundred day moving average is $138.90. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

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

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 1.37%. Hess’s dividend payout ratio (DPR) is currently 22.22%.

Insider Activity

In other news, CEO John B. Hess sold 125,000 shares of Hess stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the sale, the chief executive officer now directly owns 217,894 shares in the company, valued at approximately $32,047,849.52. The trade was a 36.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HES. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. Citigroup lifted their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. StockNews.com initiated coverage on shares of Hess in a report on Friday. They issued a “hold” rating on the stock. Wells Fargo & Company upgraded shares of 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, Susquehanna lifted their target price on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.60.

Hess Company 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.