Twin Securities Inc. Has $12.99 Million Holdings in Hess Co. (NYSE:HES)

Twin Securities Inc. raised its holdings in Hess Co. (NYSE:HES) by 82.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,663 shares of the oil and gas producer’s stock after acquiring an additional 43,332 shares during the quarter. Hess comprises 14.7% of Twin Securities Inc.’s portfolio, making the stock its 3rd largest position. Twin Securities Inc.’s holdings in Hess were worth $12,991,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HBK Investments L P grew its position in shares of Hess by 16.7% during the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after buying an additional 1,017,720 shares during the period. Boussard & Gavaudan Investment Management LLP grew its holdings in Hess by 38.4% during the third quarter. Boussard & Gavaudan Investment Management LLP now owns 330,110 shares of the oil and gas producer’s stock valued at $44,337,000 after purchasing an additional 91,654 shares during the period. FORA Capital LLC acquired a new position in Hess during the third quarter valued at approximately $915,000. Glenmede Trust Co. NA increased its stake in Hess by 37.9% in the third quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer’s stock valued at $336,000 after purchasing an additional 680 shares in the last quarter. Finally, Bridgewater Associates LP raised its holdings in Hess by 107.2% in the third quarter. Bridgewater Associates LP now owns 86,502 shares of the oil and gas producer’s stock worth $11,747,000 after purchasing an additional 44,746 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Up 0.2 %

NYSE HES opened at $147.06 on Friday. The stock has a market capitalization of $45.31 billion, a price-to-earnings ratio of 17.14 and a beta of 1.15. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The stock’s 50 day moving average price is $140.25 and its two-hundred day moving average price is $142.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, analysts anticipate that Hess Co. will post 9.74 earnings per share for the current fiscal year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is currently 23.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HES shares. Susquehanna boosted their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com initiated coverage on Hess in a research note on Tuesday. They issued a “hold” rating for the company. Piper Sandler dropped their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company dropped their target price on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess presently has a consensus rating of “Hold” and a consensus target price of $163.30.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the transaction, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 in the last quarter. Corporate insiders own 9.76% 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.