Chevy Chase Trust Holdings LLC Cuts Stake in Hess Co. (NYSE:HES)

Chevy Chase Trust Holdings LLC decreased its stake in Hess Co. (NYSE:HES - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,367 shares of the oil and gas producer's stock after selling 3,153 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Hess were worth $19,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HES. Wellington Management Group LLP lifted its stake in shares of Hess by 58.9% in the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer's stock worth $509,675,000 after buying an additional 1,391,311 shares in the last quarter. HBK Investments L P lifted its stake in shares of Hess by 16.7% in the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer's stock worth $966,600,000 after buying an additional 1,017,720 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer's stock worth $450,696,000 after purchasing an additional 785,270 shares during the period. Holocene Advisors LP purchased a new position in Hess during the third quarter worth about $75,126,000. Finally, ING Groep NV raised its stake in Hess by 267.8% during the third quarter. ING Groep NV now owns 533,264 shares of the oil and gas producer's stock worth $72,417,000 after purchasing an additional 388,273 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hess

In related news, CEO John B. Hess sold 92,894 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares in the company, valued at $33,914,927. This represents a 28.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HES has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Hess in a research note on Friday, February 14th. They set a "hold" rating on the stock. Citigroup boosted their price target on shares of Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company raised shares of Hess from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $151.00 to $193.00 in a research note on Monday, December 9th. UBS Group lifted their price objective on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Pickering Energy Partners upgraded shares of Hess to a "hold" rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Hess has a consensus rating of "Moderate Buy" and a consensus price target of $170.60.

Hess Stock Up 0.8 %

Shares of NYSE:HES traded up $1.24 during trading on Wednesday, hitting $149.21. 1,610,547 shares of the company were exchanged, compared to its average volume of 1,965,937. The stock has a market capitalization of $45.97 billion, a P/E ratio of 16.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The firm's 50 day moving average price is $140.53 and its 200-day moving average price is $138.85.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, research analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.34%. Hess's dividend payout ratio (DPR) is 22.22%.

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.