58,090 Shares in Hess Co. (NYSE:HES) Bought by GF Fund Management CO. LTD.

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

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Hess by 46.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer's stock valued at $389,787,000 after purchasing an additional 927,093 shares during the last quarter. Symmetry Investments LP grew its stake in shares of Hess by 154.1% in the fourth quarter. Symmetry Investments LP now owns 1,381,076 shares of the oil and gas producer's stock valued at $183,697,000 after buying an additional 837,662 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Hess by 6.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer's stock valued at $1,521,499,000 after buying an additional 698,866 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Hess by 164.1% during the 4th quarter. Point72 Asset Management L.P. now owns 769,042 shares of the oil and gas producer's stock valued at $102,290,000 after purchasing an additional 477,796 shares in the last quarter. Finally, TIG Advisors LLC lifted its holdings in Hess by 101.2% during the 4th quarter. TIG Advisors LLC now owns 927,331 shares of the oil and gas producer's stock worth $123,344,000 after buying an additional 466,518 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Performance

HES traded up $1.36 on Thursday, hitting $132.43. 1,305,627 shares of the stock traded hands, compared to its average volume of 1,787,417. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $40.96 billion, a PE ratio of 14.72 and a beta of 0.61. The business has a fifty day moving average price of $136.09 and a two-hundred day moving average price of $140.92.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The company's revenue for the quarter was down 12.1% on a year-over-year basis. On average, research analysts predict that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. Hess's dividend payout ratio (DPR) is presently 27.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho decreased their target price on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler lowered their price target on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. UBS Group lowered their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen started coverage on Hess in a research note on Wednesday, May 21st. They issued a "hold" rating on the stock. Finally, Scotiabank reduced their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $162.16.

Insider Buying and Selling

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

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.