Hess Co. (NYSE:HES) is Twin Securities Inc.'s 5th Largest Position

Twin Securities Inc. boosted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,268 shares of the oil and gas producer's stock after buying an additional 3,605 shares during the period. Hess makes up 7.7% of Twin Securities Inc.'s holdings, making the stock its 5th largest position. Twin Securities Inc.'s holdings in Hess were worth $13,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new position in Hess in the 4th quarter worth $25,000. Sierra Ocean LLC acquired a new position in shares of Hess in the fourth quarter valued at about $27,000. Millstone Evans Group LLC purchased a new position in shares of Hess in the fourth quarter worth about $33,000. Rialto Wealth Management LLC acquired a new stake in shares of Hess during the fourth quarter worth about $37,000. Finally, Zions Bancorporation N.A. boosted its position in Hess by 225.6% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

Shares of NYSE:HES traded down $0.78 during trading on Tuesday, reaching $132.01. 1,603,250 shares of the company's stock traded hands, compared to its average volume of 1,803,810. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $161.69. The company has a 50-day simple moving average of $138.80 and a 200-day simple moving average of $141.33. The firm has a market cap of $40.83 billion, a PE ratio of 14.67 and a beta of 0.61.

Hess (NYSE:HES - Get Free Report) last issued 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 business had revenue of $2.92 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. As a group, analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Hess's dividend payout ratio is currently 27.66%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HES shares. Piper Sandler reduced their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Susquehanna reduced their target price on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Mizuho lowered their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group decreased their price objective on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $162.16.

Insider Buying and Selling

In other Hess 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.10% of the stock is owned by insiders.

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.