Stock events for Hess Corp. (HES)
The past six months have been significant for Hess Corp. stock, largely dominated by its acquisition by Chevron. In April 2025, Hess Corporation reported its first-quarter 2025 adjusted earnings per share of $1.81, beating analyst estimates, though net income was down approximately 42% from the prior year due to lower oil prices, and shares of HES plunged 2.6% after its Q1 earnings release. In May 2025, Hess announced a regular quarterly dividend of 50 cents per share, and the arbitration hearing concerning ExxonMobil's preemption rights in the Guyana oil fields, which could impact the Chevron acquisition, was heard. In July 2025, Chevron Corporation completed its acquisition of Hess Corporation, leading to a significant change in Hess's corporate structure, as it became a subsidiary of Chevron, and Hess also exited Suriname's offshore Block 59 amid drilling risks. Throughout this period, analysts adjusted price targets for Hess, with some maintaining "Buy" or "Outperform" ratings, citing new offshore oil discoveries bolstering investor optimism, and Hess Corporation's stock surged 4.66% in July 2025 due to new offshore oil discoveries.
Demand Seasonality affecting Hess Corp.’s stock price
While the search results do not explicitly detail a direct seasonal impact on Hess Corp.'s overall crude oil and natural gas product demand, the broader oil and gas industry experiences some seasonality. Natural gas demand can be influenced by electricity consumption, which often fluctuates with heating and cooling needs. Additionally, refineries, which process crude oil into petroleum products, are sensitive to fuel demand swings. Operational aspects can also be seasonal; for instance, winter weather in the US Bakken was noted to impact Hess's Q1 2025 net production.
Overview of Hess Corp.’s business
Hess Corporation specializes in the exploration, development, and production of crude oil and natural gas, operating within the energy sector, specifically the oil and gas industry. Its major products include crude oil, natural gas, petrochemicals, propane, and liquefied natural gas. In October 2023, Chevron Corporation announced its intent to acquire Hess Corporation in an all-stock deal, which officially closed in July 2025.
HES’s Geographic footprint
Hess Corporation maintains a focused global presence with exploration and production activities in several key regions. Onshore operations are primarily located in the United States, notably in the Bakken shale play in North Dakota and Ohio, as well as in Texas and Louisiana. Offshore operations include the US Gulf of Mexico, Canada, South America (specifically the prolific Stabroek Block offshore Guyana and offshore Suriname), and Southeast Asia (Malaysia and the Malaysia/Thailand Joint Development Area). The company also has exploration and production activities in Libya and other parts of Africa.
HES Corporate Image Assessment
In the past year, Hess Corporation's brand reputation has been notably impacted by events surrounding its acquisition and past legal issues. In September 2024, the Federal Trade Commission (FTC) conditioned its approval of the Chevron merger on John B. Hess being prohibited from serving on the company's board due to his past communications with OPEC, which could have raised questions about corporate governance and market influence. In December 2023, Hess Corporation was ordered to pay $150 million to former St. Croix refinery workers and their families due to injuries from asbestos exposure, a litigation that had been ongoing since 1997, representing a significant legal and reputational matter.
Ownership
Hess Corporation's ownership is primarily distributed among large institutional investors, with significant holdings also retained by insiders, including the Hess family. Major institutional shareholders include Vanguard Group Inc, BlackRock, Inc., State Street Corp, Adage Capital Partners Gp, L.l.c., Hbk Investments L P, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Citadel Advisors Llc, VFINX - Vanguard 500 Index Fund Investor Shares, Primecap Management Co/ca/, and Pentwater Capital Management LP.
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