Hess Corporation - HES STOCK NEWS

Hess (NYSE: HES) has achieved significant recognition for its sustainability efforts, securing the highest 'Level 5' rating in the Transition Pathway Initiative's 2024 Management Quality assessment for the fifth consecutive year. Notably, Hess stands as the only U.S. oil and gas company to achieve this distinction.

The company has also been named to Newsweek's America's Most Responsible Companies 2025 list, ranking as the highest-placed oil and gas company. This recognition is based on an analysis of the top 2,000 public companies by revenue, considering ESG performance indicators.

TPI evaluates over 2,000 companies on their greenhouse gas emissions management and strategic approach to low carbon economy risks and opportunities, aligned with frameworks including CDP, Global Reporting Initiative, Climate Action 100+ Initiative, and Task Force on Climate-related Financial Disclosures recommendations.

Hess (NYSE: HES) has announced its regular quarterly dividend of 50 cents per share on Common Stock. The dividend will be payable on December 31, 2024, to shareholders of record as of the close of business on December 16, 2024. Hess is a global independent energy company focused on crude oil and natural gas exploration and production.

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.