abrdn plc holds $13.01 million shares in Hess Corporation (HES). Hess Corporation courted a strong trading day, outperforming competitors. Its Q3 earnings beat estimates with increased revenues year-over-year. Higher oil prices helped Hess score a Q1 profit and Guyana's oil surge contributed to the company beating profit expectations. However, Guyana's Q3 oil output fell by approximately 11% due to maintenance according to Hess. Kercheville Advisors LLC sold 3,810 shares of Hess, and Hess stock faced regulatory hurdles amid Chevron merger delay.
Despite some underperformance on certain days, it appears Hess has strong growth prospects, being identified as an aggressive growth stock. It raised its exploratory expenditures view to $4.9B from $4.2B. Nevertheless, State of Alaska Department of Revenue and Adams Diversified Equity Fund Inc. both cut their stock positions. Chevron's acquisition of Hess Corp. finally received U.S. regulator’s approval and shareholder approval. Consequently, Hess raised its quarterly dividend by 14% to 50c per share. Yet, there was a long delay in the Chevron sale, causing Hess shares to dramatically fall.
Hess Corporation HES News Analytics from Wed, 13 Mar 2024 20:20:05 GMT to Sat, 02 Nov 2024 08:32:11 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor -4
