Hess Corporation (HES) is at a pivotal point with a series of critical updates recently.
Norden Group LLC and
Commonwealth Equity Services LLC have bought significant positions in HES, while some holders like
Fisher Asset Management LLC and
State of Alaska Department of Revenue have reduced their stakes.
M&A developments also create some buzz around HES with shareholders of namely
Chevron and
Hess approving a
$53 Billion merger. However, legal complications and an arbitration panel's formation puts a question mark on the merger completion. Notably, the Chevron-Hess deal is also at the helm of a major energy sector dispute, largely revolving around Hess' Guyana Oil Assets. A recent analysis by
Goldman Sachs adds Hess to its board.
Q4 and
Q1 earnings both outperformed market expectations, with analysts predicting a higher 2023 production outlook.
Hess Corp marked a net income of $504 million in
Q3 2023 earnings, which are up by 13%. The stock saw some fluctuations but has largely underperformed in the market, receiving a consensus rating of 'Hold'.
Hess Corporation HES News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Sun, 07 Jul 2024 18:44:05 GMT -
Rating -2
- Innovation 3
- Information 6
- Rumor -2
