Wolverine Asset Management LLC Sells 3,099 Shares of Hess Co. (NYSE:HES)

Wolverine Asset Management LLC lowered its stake in shares of Hess Co. (NYSE:HES) by 15.1% during the fourth quarter, HoldingsChannel reports. The fund owned 17,405 shares of the oil and gas producer’s stock after selling 3,099 shares during the quarter. Wolverine Asset Management LLC’s holdings in Hess were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ING Groep NV increased its holdings in shares of Hess by 22.4% during the 4th quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $86,842,000 after purchasing an additional 119,636 shares during the period. Alberta Investment Management Corp grew its position in Hess by 259.0% during the fourth quarter. Alberta Investment Management Corp now owns 305,880 shares of the oil and gas producer’s stock worth $40,685,000 after buying an additional 220,680 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Hess by 23.1% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,073 shares of the oil and gas producer’s stock worth $1,340,000 after buying an additional 1,890 shares in the last quarter. Kestra Investment Management LLC bought a new position in Hess during the fourth quarter valued at about $163,000. Finally, Venturi Wealth Management LLC raised its holdings in Hess by 215.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,205 shares of the oil and gas producer’s stock valued at $293,000 after acquiring an additional 1,505 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Trading Down 2.0 %

Shares of HES stock opened at $147.96 on Friday. The company has a market capitalization of $45.59 billion, a P/E ratio of 16.44 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 quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $140.87 and a 200 day moving average price of $139.01.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Research analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

HES has been the topic of several recent research reports. Citigroup lifted their price objective on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. StockNews.com assumed coverage on shares of Hess in a research note on Saturday. They issued a “hold” rating for the company. Pickering Energy Partners raised shares of Hess to a “hold” rating in a report on Friday, January 3rd. Finally, UBS Group upped their target price on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Hess presently has an average 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.