Twin Securities Inc. Buys 3,605 Shares of Hess Co. (NYSE:HES)

Twin Securities Inc. grew its stake in shares of Hess Co. (NYSE:HES) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,268 shares of the oil and gas producer’s stock after purchasing an additional 3,605 shares during the quarter. Hess accounts for 7.7% of Twin Securities Inc.’s investment portfolio, making the stock its 5th biggest position. Twin Securities Inc.’s holdings in Hess were worth $13,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Park Avenue Securities LLC increased its position in shares of Hess by 169.5% during the fourth quarter. Park Avenue Securities LLC now owns 8,408 shares of the oil and gas producer’s stock worth $1,118,000 after acquiring an additional 5,288 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Hess by 69.2% during the fourth quarter. Brooklyn Investment Group now owns 1,420 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 581 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Hess by 5.3% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,493 shares of the oil and gas producer’s stock worth $332,000 after acquiring an additional 125 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Hess by 6.5% during the fourth quarter. HB Wealth Management LLC now owns 16,160 shares of the oil and gas producer’s stock worth $2,149,000 after acquiring an additional 984 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in shares of Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Down 0.2%

NYSE:HES opened at $134.86 on Friday. The firm has a market capitalization of $41.71 billion, a PE ratio of 14.98 and a beta of 0.61. The stock has a 50 day moving average of $139.25 and a 200-day moving average of $141.38. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last posted its earnings results 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. Analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 16th. Hess’s dividend payout ratio (DPR) is presently 27.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HES. UBS Group dropped their target price on Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. StockNews.com initiated coverage on Hess in a report on Tuesday, May 13th. They issued a “hold” rating for the company. Piper Sandler lowered their price objective on Hess from $151.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Scotiabank lowered their price objective on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a report on Friday, April 11th. Finally, Mizuho lowered their price objective on Hess from $193.00 to $191.00 and set a “neutral” rating for the company 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 company’s stock. According to MarketBeat.com, Hess presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.16.

Insider Activity

In other news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.10% of the company’s stock.

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.