Hess Corporation is in a transitional phase as numerous updates indicate possible merger with
Chevron. Regulatory approvals have been cleared, yet the decision still hinges in part on changes of control over Hess's substantial
Guyana assets. The merger deal faced a delay due to arbitration, and certain conditions have been set like the Hess CEO not joining the Chevron board. The potential deal with Chevron didn’t deter independent advisory bodies, like
Glass Lewis and
Goldman Sachs, from expressing support or further involvement with Hess Corporation, even advising stockholders to vote for the Chevron deal. Earnings releases have been generally positive, with Hess exceeding profit estimates, supported predominantly by the surge in Guyana oil. Hess has also hiked the quarterly dividend by 14.3% rewarding its stockholders.
Regardless of merger outcomes, Hess Corporation seems poised to continue its upward trajectory, with a solid financial performance, optimistic oil demand forecasts, and large-scale development in Guyana. Despite certain regulatory risks and a decreased stock position by M&T Bank Corp, the overall consensus recommendation still remains a 'Moderate Buy'.
Hess Corporation HES News Analytics from Wed, 13 Mar 2024 20:20:05 GMT to Fri, 10 Jan 2025 12:59:30 GMT -
Rating 8
- Innovation 4
- Information 6
- Rumor -2
