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Caxton Associates Exits Hess, Cabot

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GuruFocus.com
·4 min read
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- By Tiziano Frateschi

Caxton Associates (Trades, Portfolio) sold shares of the following stocks during the fourth quarter, which ended on Dec. 31.


Hess

The Hess Corp. (HES) holding was closed, impacting the portfolio by -4.37%.

The oil and gas producer has a market cap of $21.31 billion and an enterprise value of $29.61 billion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -46.01% and return on assets of -15.49% are underperforming 78% of companies in the oil and gas industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.19 is below the industry median of 0.42.

The largest guru shareholder of the company is Dodge & Cox with 5.60% of outstanding shares, followed by HOTCHKIS & WILEY with 3.18% and PRIMECAP Management (Trades, Portfolio) with 2.78%.

Cabot Oil & Gas

The Cabot Oil & Gas Corp. (COG) holding was closed, impacting the portfolio by -3.82%.

The independent exploration and production company has a market cap of $7.57 billion and an enterprise value of $8.77 billion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 10% and return on assets of 4.83% are outperforming 83% of companies in the industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.48 is above the industry median of 0.43.

The largest guru shareholders of the company include PRIMECAP Management (Trades, Portfolio) with 1.23% of outstanding shares, Pioneer Investments (Trades, Portfolio) with 0.45% and Richard Snow (Trades, Portfolio) with 0.08%.

Equinor

The firm closed its Equinor ASA (ENQR) stake. The portfolio was impacted by -3.25%.

The Norway-based integrated oil and gas company has a market cap of $64.05 billion and an enterprise value of $84.36 billion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot

GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the return on equity of -14.87% is underperforming the sector, the return on assets of -4.71% is outperforming 51% of companies in the oil and gas industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.49 is above the industry median of 0.41.

The largest guru shareholder of the company is Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.07% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.05% and Ken Fisher (Trades, Portfolio) with 0.01%.

EQT

The firm exited its EQT Corp. (EQT) stake. The portfolio was impacted by -3.12%.

The independent natural gas production company has a market cap of $5.20 billion and an enterprise value of $10.13 billion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -10.29% and return on assets of -5.31% are underperforming 52% of companies in the industry. Its financial strength is rated 3 out of 10 with the cash-debt ratio of 0.51.


The largest guru shareholder of the company is David Tepper (Trades, Portfolio) with 0.80% of outstanding shares, followed by Cohen with 0.33% and David Nierenberg (Trades, Portfolio) with 0.28%.

Amazon.com

The firm cut its Amazon.com Inc. (AMZN) stake by 71.08%. The portfolio was impacted by -1.74%.

The online retailer has a market cap of $1.59 trillion and an enterprise value of $1.60 trillion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot


GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 28.27% and return on assets of 8.15% are outperforming 86% of companies in the retail, cyclical industry. Its financial strength is rated 6 out of 10 with a cash-debt ratio of 1.


The largest guru shareholder of the company is Fisher with 0.35% of outstanding shares, followed by Frank Sands (Trades, Portfolio) with 0.32% and Spiros Segalas (Trades, Portfolio) with 0.20%.

Altice USA

The firm trimmed its Altice USA Inc. (ATUS) stake by 98.9%. The portfolio was impacted by -1.66%.

The U.S. company, which provides television, Internet access and phone services, has a market cap of $16.14 billion and an enterprise value of $42.78 billion.

Caxton Associates Exits Hess, Cabot
Caxton Associates Exits Hess, Cabot

GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the return on equity of 47.47% is outperforming the sector, the return on assets of 1.29% is underperforming 57% of companies in the telecommunication services industry. Its financial strength is rated 2 out of 10 with a cash-debt ratio of 0.01.


The largest guru shareholder of the company is Barrow, Hanley, Mewhinney & Strauss with 1.22% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.15%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.