Recent developments at the Hess Corporation have drawn significant attention from the market. Among the notable events is Chevron's acquisition of Hess, which has resulted in a speculated $400 million Q3 hit for Chevron. Meanwhile, Hess stocks have been performing well with projections of greater growth on the horizon — an anticipation further bolstered by the successful ramp-up of another forthcoming platform. The anticipated decision on Hess-Chevron arbitration within 90 days, subsequent to a $69 million revenue diversion lawsuit against Hess, brings an air of uncertainty. Despite this, Chevron remains confident about the merger, having purchased a 5% stake in Hess Corp while anticipating its acquisition's successful completion. The Hess Corp CEO selling substantial amount in stock raises another wave of speculation in the market. Nevertheless, Hess Corp has scheduled its earnings release and remains anticipated to yield strong Q2 2025 earnings. News about John B Hess's restriction from the Chevron board being lifted adds another twist to this ongoing story. Finally, Hess Corp's dropping from the S&P 500 and the lawsuit from Continental Resources against Hess over alleged $69M fraud complicates the scenario.
Hess Corporation HES News Analytics from Wed, 15 May 2024 07:00:00 GMT to Thu, 25 Sep 2025 12:23:58 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor 2
