In a series of recent market updates, Hess Corporation (HES) managed to outperform expectations in its Q4 earnings report, with an adjusted EPS of $1.76 surpassing a FactSet of $1.49. Revenue also increased year-over-year, with strong results in both Bakken & Guyana aiding growth. The corporation also received increased investments from R Squared Ltd and Manning & Napier Advisors LLC. Factors such as the Q4 results and notable presence in Ken Griffin's portfolio have buoyed the bullish sentiment amongst stakeholders.
Progress has also been reported in regards to the proposed merger with Chevron, with shareholder approval announced. However, the process has hit some regulatory challenges, leading to a temporary drop in shares and reduction in target stock price. Despite potential setback, the merger passed FTC antitrust review, and further updates state the HSR clearance of the merger. However, the FTC has blocked John Hess' role in Chevron's board. The reported Q4 2024 earnings also beat expectations, as did profit reports influenced by the surge in Guyana oil.
Hess Corporation HES News Analytics from Wed, 13 Mar 2024 20:20:05 GMT to Sat, 01 Feb 2025 02:37:52 GMT - Rating 8 - Innovation 5 - Information 7 - Rumor -5
