Wealth Enhancement Advisory Services LLC Raises Holdings in Hess Corporation (NYSE:HES)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Hess Corporation (NYSE:HES - Free Report) by 404.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,932 shares of the oil and gas producer's stock after purchasing an additional 28,005 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Hess were worth $5,580,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock worth $244,483,000 after purchasing an additional 82,703 shares in the last quarter. American Century Companies Inc. lifted its holdings in Hess by 14.7% during the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock worth $44,300,000 after purchasing an additional 42,797 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Hess by 76.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,188 shares of the oil and gas producer's stock worth $1,089,000 after purchasing an additional 3,541 shares in the last quarter. Freestone Capital Holdings LLC lifted its holdings in Hess by 95.5% during the 4th quarter. Freestone Capital Holdings LLC now owns 14,844 shares of the oil and gas producer's stock worth $1,974,000 after purchasing an additional 7,252 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Hess during the 1st quarter worth about $862,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of Hess stock opened at $138.31 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $42.78 billion, a PE ratio of 19.13 and a beta of 0.62. The business's 50-day moving average price is $134.39 and its 200-day moving average price is $139.97. Hess Corporation has a 12 month low of $123.79 and a 12 month high of $161.69.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. Hess's revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 earnings per share. Sell-side analysts forecast that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Hess's dividend payout ratio (DPR) is presently 27.66%.

Insider Activity

In other news, CEO John B. Hess sold 250,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the transaction, the chief executive officer now directly owns 1,734,679 shares in the company, valued at approximately $235,933,690.79. This represents a 12.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.10% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank dropped their price objective on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Wall Street Zen raised Hess from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Susquehanna lowered their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised their price target on Hess from $163.00 to $173.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Mizuho lowered their price target on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $163.16.

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.

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