Hess Corp Stock Price, News & Analysis

Hess (NYSE: HES) announced that CEO John Hess will participate in a Keynote Fireside Chat at the Wolfe Research Oil & Gas Conference on Wednesday, November 20 at 7:50 a.m. Eastern Time. The event will be accessible through a live audio webcast and replay on the company's website.

Hess operates as a global independent energy company focused on crude oil and natural gas exploration and production.

Hess reported Q3 2024 net income of $498 million ($1.62 per share), compared to $504 million ($1.64 per share) in Q3 2023. Adjusted net income rose to $660 million ($2.14 per share). Oil and gas production increased 17% to 461,000 boepd, with Guyana production up 57% to 170,000 bopd and Bakken production up 8% to 206,000 boepd. The company increased its quarterly dividend by 14% to $0.50 per share. E&P capital expenditure guidance for 2024 was raised to $4.9 billion from $4.2 billion, reflecting accelerated FPSO vessel purchases.

Hess (NYSE: HES) has announced that it will release its third quarter earnings press release and post supplemental earnings information on its website at www.hess.com on Wednesday, October 30. The company will not hold a conference call due to the recently announced definitive agreement for Hess to be acquired by Chevron, subject to closing conditions. This agreement was announced on October 23, 2023.

Hess is described as a leading global independent energy company focused on the exploration and production of crude oil and natural gas. More information about the company can be found on their official website.

Hess (NYSE: HES) announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying a key closing condition. CEO John Hess expressed satisfaction with this regulatory clearance, highlighting the merger's potential to create a premier integrated energy company. To address FTC concerns, John Hess will not join Chevron's Board but will serve as an advisor on Guyana relations and sustainability initiatives.

The Hess Board disagrees with the FTC's concern about Mr. Hess' OPEC communications, supporting his role as CEO. John Hess emphasized the need for long-term investment in both oil and gas and renewable energy to ensure affordable and secure energy. The merger's completion remains subject to resolving ongoing arbitration regarding preemptive rights in the Stabroek Block joint operating agreement.

Chevron announced that the Federal Trade Commission (FTC) has completed its antitrust review of the company's merger with Hess , satisfying a key closing condition. Chevron Chairman and CEO Mike Wirth expressed optimism about the merger's benefits for shareholders, the industry, and Guyana. To facilitate the merger's completion, Hess CEO John Hess will not join Chevron's Board of Directors but will serve as an advisor on government relations and social investments in Guyana, as well as support for the Salk Institute's Harnessing Plants Initiative.

The merger's completion remains subject to other closing conditions, including the resolution of ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement. Chevron is confident in its position regarding the arbitration process. Hess shareholders approved the merger agreement in May 2024.

Hess (NYSE: HES) has announced an increase in its regular quarterly dividend. The Board of Directors declared a dividend of 50 cents per share on the company's Common Stock, payable on September 30, 2024, to shareholders of record as of September 16, 2024. This represents a significant 14% increase compared to the previous quarter's dividend, equating to a 25 cent increase per share on an annualized basis. Hess , a leading global independent energy company, is engaged in the exploration and production of crude oil and natural gas.

Hess (NYSE: HES) reported strong financial results for Q2 2024. Net income rose to $757 million ($2.46 per share), up from $119 million ($0.39 per share) in Q2 2023. Adjusted net income reached $809 million ($2.62 per share), compared to $201 million ($0.65 per share) last year. The company saw significant production growth, with total net production increasing 28% to 494,000 boepd. Notably, Guyana production surged 75% to 192,000 bopd. Bakken production also improved by 17% to 212,000 boepd. The company's average realized crude oil price increased to $80.29 per barrel, up from $71.13 in Q2 2023. Hess maintains a strong liquidity position with $1.9 billion in cash and cash equivalents. The company's success in Guyana continues, with multiple development projects progressing as planned.

Hess (NYSE: HES) will release its second-quarter earnings on Wednesday, July 31. Concurrently, the company will post additional earnings information on its website. Hess will not host an earnings call due to a definitive agreement for acquisition by Chevron, announced on October 23, 2023. This acquisition is pending shareholder and regulatory approvals and other customary closing conditions. Hess is a prominent global independent energy company focusing on crude oil and natural gas exploration and production.

Hess (NYSE: HES) announced that its stockholders have approved the proposed merger with Chevron During a special meeting, a majority of Hess's outstanding shares voted in favor of the merger. CEO John Hess highlighted that the merger will create a leading integrated energy company capable of delivering significant shareholder value. The final voting results will be documented in a Form 8-K filed with the U.S. SEC. The merger does not require approval from Chevron's stockholders but remains subject to other closing conditions, including regulatory approvals and arbitration outcomes related to the Stabroek Block joint operating agreement. Both companies aim to complete the merger promptly.