Chevy Chase Trust Holdings LLC Has $22.46 Million Holdings in Hess Co. (NYSE:HES)

Chevy Chase Trust Holdings LLC cut its holdings in Hess Co. (NYSE:HES) by 1.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,225 shares of the oil and gas producer’s stock after selling 1,526 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Hess were worth $22,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HES. New Covenant Trust Company N.A. acquired a new stake in shares of Hess in the first quarter valued at approximately $25,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Hess in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Hess during the first quarter worth $27,000. Cape Investment Advisory Inc. acquired a new position in Hess during the fourth quarter worth $32,000. Finally, Riverview Trust Co acquired a new position in Hess during the first quarter worth $36,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Hess in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. StockNews.com initiated coverage on shares of Hess in a report on Friday, June 28th. They set a “hold” rating on the stock. UBS Group reduced their price objective on shares of Hess from $193.00 to $192.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup lifted their price objective on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Finally, Scotiabank reduced their price objective on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hess has an average rating of “Hold” and a consensus target price of $175.77.

Hess Stock Performance

Shares of HES stock traded down $2.16 on Tuesday, hitting $136.02. The company’s stock had a trading volume of 1,524,219 shares, compared to its average volume of 2,328,738. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50 day moving average is $144.86 and its 200-day moving average is $149.27. Hess Co. has a fifty-two week low of $130.35 and a fifty-two week high of $167.75. The company has a market capitalization of $41.91 billion, a PE ratio of 20.89 and a beta of 1.16.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the company posted $0.65 earnings per share. Hess’s revenue was up 40.3% compared to the same quarter last year. Equities research analysts expect that Hess Co. will post 11.08 earnings per share for the current fiscal year.

Hess 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.