Hess Corporation (NYSE: HES) has seen its stock go through marked market shifts recently, hitting a 52-week low at $130.32. Despite this, various shareholders have increased their holdings including Varma Mutual Pension Insurance Co, and Kornitzer Capital Management Inc. However, Hess's performance has been under-average compared to its competitors.
In a positive turn, Hess has announced a raise in its regular quarterly dividend for stockholders by 14.3%, surging its earnings estimates. On a cautious note, few legal and regulatory hurdles have showed up amid Hess's merger plans with Chevron, leading to delays and potential troubles. Despite these hurdles, shareholders have approved the merger.
Hess is also scouting for a new partner for offshore Suriname's Block 59 as it proceeds with its Q2 earnings that have successfully beaten estimates. However, there has been notable behaviour from insiders like Senior Vice President Barbara Lowery-Yilmaz, who recently sold some shares of Hess.
Hess aims for growth with increased production volumes and potential acquisition. Yet, disputes over Guyana assets and dissenting voices from stakeholders like ISS might pose future challenges.
Hess Corporation HES News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Sun, 08 Sep 2024 15:33:52 GMT - Rating 0 - Innovation 3 - Information 6 - Rumor 2
