GF Fund Management CO. LTD. Makes New $7.73 Million Investment in Hess Co. (NYSE:HES)

GF Fund Management CO. LTD. acquired a new position in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 58,090 shares of the oil and gas producer's stock, valued at approximately $7,727,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Hess in the 4th quarter valued at approximately $3,117,000. Manning & Napier Advisors LLC acquired a new position in Hess in the 4th quarter valued at approximately $2,274,000. Charles Schwab Investment Management Inc. increased its position in Hess by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after acquiring an additional 82,703 shares during the period. CIBC Asset Management Inc increased its position in Hess by 4.5% in the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after acquiring an additional 1,861 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Hess by 14.7% in the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock valued at $44,300,000 after purchasing an additional 42,797 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.10% of the stock is currently owned by corporate insiders.

Hess Stock Up 0.9%

Shares of Hess stock traded up $1.22 during trading hours on Tuesday, reaching $132.58. The company's stock had a trading volume of 3,171,103 shares, compared to its average volume of 1,797,613. The stock's fifty day simple moving average is $137.10 and its two-hundred day simple moving average is $141.04. The company has a market capitalization of $41.01 billion, a P/E ratio of 14.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a one year low of $123.79 and a one year high of $161.69.

Hess (NYSE:HES - Get Free Report) last announced 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 firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. On average, research analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company 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 $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. Hess's dividend payout ratio is currently 27.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HES. Piper Sandler reduced their price objective on shares of Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Susquehanna reduced their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen initiated coverage on shares of Hess in a research note on Wednesday, May 21st. They issued a "hold" rating on the stock. UBS Group cut their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Scotiabank cut their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Hess presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.

Hess Company 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.