The prominent energy company,
Hess Corporation (NYSE:HES), is witnessing significant trading activity with shares being both sold and bought by large asset management groups. Simultaneously, the company has been facing legal difficulties concerning
disclosure deficiencies related to its deal with Chevron. Notably, Hess share performance saw an underperformance across multiple days compared to competitors. However, multiple compelling reasons suggest Hess is a
solid growth stock, including strong
Q1 and Q4 earnings that surpassed estimates and an increase in
2023 production outlook. Despite skepticism about Chevron's $53B acquisition of Hess, Hess has affirmed
strong support for the merger. The company recently set May 28 for a shareholder vote on the Chevron buyout. However, some shareholders plan to abstain from voting. The acquisition has faced scrutiny as Hess assets have sparked a major energy sector dispute, particularly concerning oil assets in Guyana. Despite these challenges, Hess has shown resilience with its
dividend strategy, and strong earnings leading up to Chevron's acquisition.
Hess Corporation HES News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Thu, 23 May 2024 19:33:11 GMT -
Rating -1
- Innovation 6
- Information 8
- Rumor -5
