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

GF Fund Management CO. LTD. bought a new stake in Hess Co. (NYSE:HES) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 58,090 shares of the oil and gas producer’s stock, valued at approximately $7,727,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. J.Safra Asset Management Corp acquired a new stake in shares of Hess in the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter worth $27,000. Millstone Evans Group LLC acquired a new stake in Hess in the fourth quarter valued at about $33,000. Rialto Wealth Management LLC acquired a new stake in Hess in the fourth quarter valued at about $37,000. Finally, Zions Bancorporation N.A. grew its position in Hess by 225.6% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Price Performance

HES opened at $131.34 on Friday. The firm has a 50-day moving average price of $137.60 and a 200-day moving average price of $141.14. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69. 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 market capitalization of $40.62 billion, a price-to-earnings ratio of 14.59 and a beta of 0.61.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the company posted $3.16 EPS. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. Equities analysts expect that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 1.52%. Hess’s payout ratio is currently 27.66%.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. The trade was a 6.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Analyst Ratings Changes

HES has been the topic of several research reports. Wall Street Zen started coverage on shares of Hess in a report on Wednesday. They set a “hold” rating on the stock. Mizuho decreased their target price on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Scotiabank lowered their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a report on Friday, April 11th. UBS Group dropped their price target on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Susquehanna reduced their price objective on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess has a consensus rating of “Moderate Buy” and an average 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.