Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates through two segments, Exploration and Production, and Marketing and Refining. It conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico. As of December 31, 2020, the company had total proved reserves of 1,077 million barrels of oil equivalent. It is also involved in the gathering, compressing, and processing of natural gas; fractionating NGLs; gathering, terminaling, loading, and transporting crude oil and NGLs through rail car; storing and terminaling propane, as well as providing water handling services primarily in the Bakken Shale plays in the Williston Basin area of North Dakota. The company was incorporated in 1920 and is headquartered in New York, New York.
IPO Year:
Exchange: NYSE
Website: hess.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/9/2024 | $151.00 → $193.00 | Equal Weight → Overweight | Wells Fargo |
| 9/30/2024 | $150.00 | Peer Perform → Outperform | Wolfe Research |
| 7/18/2024 | Peer Perform | Wolfe Research | |
| 11/7/2023 | $171.00 | Hold → Buy | Argus |
| 11/2/2023 | $189.00 → $166.00 | Outperform → Mkt Perform | Bernstein |
| 4/19/2023 | $184.00 | Buy | UBS |
| 1/27/2023 | $161.00 → $170.00 | Buy → Neutral | Goldman |
| 1/12/2023 | $181.00 | Peer Perform → Outperform | Wolfe Research |
| 1/10/2023 | $150.00 → $164.00 | Buy → Neutral | Mizuho |
| 10/19/2022 | $140.00 | Hold | Jefferies |
Wells Fargo upgraded Hess from Equal Weight to Overweight and set a new price target of $193.00 from $151.00 previously
Wolfe Research upgraded Hess from Peer Perform to Outperform and set a new price target of $150.00
Wolfe Research resumed coverage of Hess with a rating of Peer Perform
Argus upgraded Hess from Hold to Buy and set a new price target of $171.00
Bernstein downgraded Hess from Outperform to Mkt Perform and set a new price target of $166.00 from $189.00 previously
UBS initiated coverage of Hess with a rating of Buy and set a new price target of $184.00
Goldman downgraded Hess from Buy to Neutral and set a new price target of $170.00 from $161.00 previously
Wolfe Research upgraded Hess from Peer Perform to Outperform and set a new price target of $181.00
Mizuho downgraded Hess from Buy to Neutral and set a new price target of $164.00 from $150.00 previously
Jefferies initiated coverage of Hess with a rating of Hold and set a new price target of $140.00
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Hess Corporation (NYSE:HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 15th consecutive year and for the third time has been included in the Dow Jones Sustainability World Index (DJSI World), which highlights global sustainability leaders identified by S&P Global through its Corporate Sustainability Assessment. Only the most sustainable companies are considered each year for DJSI membership. This year, Hess is the only North American oil and gas producer listed on DJSI World and one of only four oil and gas companies included in DJSI North America. In addition, Hess has been named to the Wall Street Journal's annual ranking of the Top
Hess Corporation (NYSE:HES) announced today that on Wednesday, January 29 it will issue its fourth quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to the agreement's closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements in this release may constitute "forward
Hess Corporation (NYSE:HES) announced today that John Hess, Chief Executive Officer, will participate in a Fireside Chat at the Goldman Sachs Energy, CleanTech and Utilities Conference on January 7, 2025 at 11:00 a.m. Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation's website. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Cautionary Statements This presentation may contain projections and other forward-looking statements within the meaning of Section 27A of the Securiti
Achieved Transition Pathway Initiative's Top Level 5 Rating in Latest Assessment Named to Newsweek's List of America's Most Responsible Companies 2025 Hess Corporation (NYSE:HES) has achieved the highest rating – now called "Level 5" – for the fifth consecutive year in the Transition Pathway Initiative (TPI) 2024 Management Quality assessment. For 2024, Hess is the only U.S. oil and gas company to achieve a Level 5 rating. TPI rates more than 2,000 companies in their management of greenhouse gas emissions and the strategic risks and opportunities of a low carbon economy in line with other disclosure frameworks including CDP, the Global Reporting Initiative, the Climate Action 100+ In
The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 50 cents per share payable on the Common Stock of the Corporation on December 31, 2024 to holders of record at the close of business on December 16, 2024. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20241204825670/en/
Hess Corporation (NYSE:HES) announced today that John Hess, Chief Executive Officer, will participate in a Keynote Fireside Chat at the Wolfe Research Oil & Gas Conference Wednesday, November 20 at 7:50 a.m. Eastern Time. A live audio webcast and a replay of the discussion will be accessible via Hess Corporation's website. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Cautionary Statements This presentation may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities A
Third Quarter Financial and Operational Highlights: In September, the Corporation announced a 14% increase in its quarterly dividend, to $0.50 per share ($2.00 per share annualized) Net income was $498 million, or $1.62 per share, in the third quarter of 2024, compared with net income of $504 million, or $1.64 per share, in the third quarter of 2023 Adjusted net income1 was $660 million, or $2.14 per share, in the third quarter of 2024, compared with net income of $504 million, or $1.64 per share, in the third quarter of 2023 E&P oil and gas net production was 461,000 barrels of oil equivalent per day (boepd), up 17% from 395,000 boepd in the third quarter of 2023 Bakken net produ
Hess Corporation (NYSE:HES) announced today that on Wednesday, October 30 it will issue its third quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to the agreement's closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements in this release may constitute "forward-look
Hess Corporation (NYSE:HES) today announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying one of the closing conditions for the transaction. "We are very pleased that our merger with Chevron has cleared this significant regulatory hurdle," said CEO John Hess. "This transaction continues to be an outstanding deal for Hess and Chevron shareholders and will create a premier integrated energy company that is ideally positioned for the energy transition." To facilitate completion of the merger, Hess and Chevron have agreed that Mr. Hess will not be appointed to the Chevron Board of Directors in order to address a concern rais
Chevron Corporation (NYSE:CVX) today announced the Federal Trade Commission (FTC) completed antitrust review of the company's merger with Hess Corporation (NYSE:HES), satisfying a key closing condition for the transaction. "This is an important step toward completing the merger, which will benefit our shareholders, the industry, and the country of Guyana, and add world class assets to our already advantaged portfolio," said Chevron Chairman and CEO Mike Wirth. "We look forward to completing the transaction and welcoming Hess into our company." To facilitate completion of the merger, Hess and Chevron have agreed that Hess CEO John Hess will not be appointed to the Chevron Board of Director
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HOUSTON, April 1, 2021 /PRNewswire/ -- American Resources, Inc., and SK Energy LLC, the investment vehicle of Dr. Simon Kukes, one of the largest shareholders of Ring Energy, Inc. (NYSE: REI), announced today that we are generally encouraged by Ring Energy's actions over the past year which follows the guidance laid out in our March 2, 2020 letter to the Board of Directors of Ring Energy, which provided explicit recommendations to strengthen the Company in the near-term such as: Reconstitute the Board of Directors to address entrenchment, inter-relation among directors, and lack of fresh perspective and opinion on the Board Consolidate office locations and management to a central location
NEW YORK--(BUSINESS WIRE)--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on December 30, 2020, to holders of record at the close of business on December 15, 2020. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com.
HOUSTON, Dec. 2, 2020 /PRNewswire/ -- American Resources, Inc., and SK Energy LLC, the investment vehicle of Dr. Simon Kukes, one of the largest shareholders of Ring Energy, Inc. (NYSE: REI), announced today that they are very concerned with certain actions of the Board of Directors of Ring Energy. As a result of those concerns, SK Energy and American Resources urge all shareholders to withhold votes on all members of Ring Energy's Board of Directors in the upcoming election. The Ring Energy Board of Directors appears to have made a mistake by offering employment to a CEO whose previous performance in similar roles does not instill confidence in his ability to make Ring Energy successful
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Hess Corporation (NYSE:HES) announced today that on Wednesday, January 29 it will issue its fourth quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to the agreement's closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements in this release may constitute "forward
The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 50 cents per share payable on the Common Stock of the Corporation on December 31, 2024 to holders of record at the close of business on December 16, 2024. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20241204825670/en/
Third Quarter Financial and Operational Highlights: In September, the Corporation announced a 14% increase in its quarterly dividend, to $0.50 per share ($2.00 per share annualized) Net income was $498 million, or $1.62 per share, in the third quarter of 2024, compared with net income of $504 million, or $1.64 per share, in the third quarter of 2023 Adjusted net income1 was $660 million, or $2.14 per share, in the third quarter of 2024, compared with net income of $504 million, or $1.64 per share, in the third quarter of 2023 E&P oil and gas net production was 461,000 barrels of oil equivalent per day (boepd), up 17% from 395,000 boepd in the third quarter of 2023 Bakken net produ
Hess Corporation (NYSE:HES) announced today that on Wednesday, October 30 it will issue its third quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to the agreement's closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements in this release may constitute "forward-look
The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 50 cents per share payable on the Common Stock of the Corporation on September 30, 2024 to holders of record at the close of business on September 16, 2024. The dividend represents an approximate 14% increase compared to the dividend for the second quarter of 2024, which equals a 25 cent increase per share on an annualized basis. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com. View source version on businesswire.com: https://www.
Second Quarter Financial and Operational Highlights: Net income was $757 million, or $2.46 per share, compared with net income of $119 million, or $0.39 per share, in the second quarter of 2023 Adjusted net income1 was $809 million, or $2.62 per share, compared with $201 million, or $0.65 per share, in the second quarter of 2023 Oil and gas net production was 494,000 barrels of oil equivalent per day (boepd), up 28% from 387,000 boepd in the second quarter of 2023 Bakken net production was 212,000 boepd, up 17% from 181,000 boepd in the second quarter of 2023; Guyana net production was 192,000 barrels of oil per day (bopd), up 75% from 110,000 bopd in the prior-year quarter E
Hess Corporation (NYSE:HES) announced today that on Wednesday, July 31, it will issue its second quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to shareholder and regulatory approvals and other customary closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements
The Board of Directors of Hess Corporation (NYSE:HES) today declared a regular quarterly dividend of 43.75 cents per share payable on the Common Stock of the Corporation on June 28, 2024 to holders of record at the close of business on June 14, 2024. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20240515872172/en/
Key Development: Sanctioned development of Whiptail, the sixth development on the Stabroek Block, offshore Guyana; expected to add gross production capacity of approximately 250,000 barrels of oil per day (bopd) by the end of 2027 First Quarter Financial and Operational Highlights: Net income was $972 million, or $3.16 per share, compared with net income of $346 million, or $1.13 per share, in the first quarter of 2023 Oil and gas net production was 476,000 barrels of oil equivalent per day (boepd), up 27% from 374,000 boepd in the first quarter of 2023 Bakken net production was 190,000 boepd, up 17% from 163,000 boepd in the first quarter of 2023; Guyana net production was 1
Hess Corporation (NYSE:HES) announced today that on Thursday, April 25 it will issue its first quarter earnings press release and post supplemental earnings information on its website at www.hess.com. The company will not hold a conference call due to the definitive agreement announced on October 23, 2023 for Hess to be acquired by Chevron, subject to shareholder and regulatory approvals and other customary closing conditions. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/. Forward-looking Statements Certain statements in