Hess Co. (NYSE:HES) is TIG Advisors LLC’s 2nd Largest Position

TIG Advisors LLC lifted its holdings in shares of Hess Co. (NYSE:HES) by 101.2% in the 4th quarter, Holdings Channel reports. The firm owned 927,331 shares of the oil and gas producer’s stock after acquiring an additional 466,518 shares during the period. Hess comprises 8.6% of TIG Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. TIG Advisors LLC’s holdings in Hess were worth $123,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Checchi Capital Advisers LLC raised its holdings in shares of Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after buying an additional 72 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Hess by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after acquiring an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Hess by 5.3% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 85 shares during the period. Howard Capital Management Inc. raised its holdings in Hess by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after buying an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 96 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HES. UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Scotiabank dropped 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. Susquehanna reduced their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, StockNews.com initiated coverage on shares of Hess in a report on Sunday. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Hess presently has an average rating of “Hold” and a consensus target price of $164.46.

Hess Price Performance

Shares of NYSE HES opened at $133.84 on Tuesday. The firm has a market cap of $41.26 billion, a P/E ratio of 14.87 and a beta of 0.88. Hess Co. has a twelve month low of $123.79 and a twelve 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 company has a 50 day moving average of $143.23 and a 200 day moving average of $141.96.

Hess (NYSE:HES) last announced its quarterly 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 return on equity of 26.32% and a net margin of 21.27%. As a group, research analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. Hess’s dividend payout ratio is presently 22.22%.

Insider Activity

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

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.