Hess Stock (NYSE:HES), Trade Ideas

Hess

Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2023, the company reported net proved reserves of 1.4 billion barrels of oil equivalent. Net production averaged 391 thousand barrels of oil equivalent per day in 2023, at a ratio of 74% oil and natural gas liquids and 26% natural gas.

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U.S. energy stocks decline after disappointing earnings from Exxon Mobil and Chevron. Energy sector ETF XLE sees worst session since Jan.

US Energy Stocks Fall Following Oil Giants&#39; Subdued Earnings Reports

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Exxon Mobil awarded a large contract to TechnipFMC in Guyana, to supply subsea production systems for the Whiptail project. The project is worth $12.7B and will target an estimated resource base of over 850M barrels of oil.

Exxon Taps TechnipFMC For Subsea Gear In Guyana&#39;s $12.7B Whiptail Project

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Guidance

Exxon, Hess make final investment decision for Whiptail project in Guyana, set to add 250,000 barrels of daily capacity by 2027.

Guyana&#39;s Oil Spigot Wide Open: Exxon, Hess Sanction Massive $12.7B Oil Project

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HEALTH SCIENCES GROUP INC by Health Sciences Group, Inc.

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HOME ENERGY SAVINGS CORP by Home Energy Savings Corp.

Shares of major U.S. energy companies experienced widespread declines in the first hour of trading on Friday, subsequent to the recently released subdued earnings reports from oil giants Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), a gauge for energy sector performance, experienced a 1.7% drop, setting it up for its worst session since <a href="https://www.benzinga.com/money/best-energy-stocks">the end of January.</a>
<h1 class="wp-block-heading">Chart: Energy Stocks Witness Their Sharpest Decline Since Late January As Major Oil Giants Disappoint</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239-1024x495.png" alt="" class="wp-image-311157" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26112544/image-239.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
What Happened: Exxon Mobil reported a disappointing start to the year with its first-quarter earnings missing the mark. 
The oil giant posted an earnings per share (EPS) of $2.06, falling short of the forecasted $2.189. 
Although revenue exceeded expectations at $83 billion against an anticipated $79.7 billion, its net production dipped slightly from 3.83 million oil-equivalent barrels per day the same period last year to 3.78 million oil-equivalent barrels per day.
The adjusted net profit also declined to $8.22 billion from $11.62 billion a year earlier, affected by lower refining margins and natural gas prices.
Read Also:<a href="https://www.benzinga.com/news/earnings/24/04/38459221/exxon-mobils-stock-slides-following-q1-earnings-heres-why"> Exxon Mobil&#8217;s Stock Slides Following Q1 Earnings &#8211; Here&#8217;s Why</a>
Chevron managed to align more closely with analyst expectations, delivering an EPS of $2.93 compared to the projected $2.99. 
Revenue saw a slight beat at $48.7 billion versus $48.4 billion. Chevron&#8217;s upstream business exceeded forecasts, posting earnings of $5.501 billion versus the $5.12 billion expected, although the first quarter print lower than the previous year&#8217;s $6.574 billion.
Chevron also provided updates on its ongoing merger process with Hess Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), indicating progress towards compliance with regulatory requirements.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/04/38458299/chevrons-strategic-advances-in-oil-production-overshadowed-by-q1-revenue-miss">Chevron&#8217;s Strategic Advances In Oil Production Overshadowed By Q1 Revenue Miss</a>
Furthermore, another oil player, Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), which ranks as the seventh-largest constituent in the XLE ETF, also reported earnings and revenue <a href="https://www.benzinga.com/news/earnings/24/04/38461749/why-petroleum-refineries-major-phillips-66-shares-are-falling-today">that fell below expectations.</a>
Why It Matters: Energy has stood out as the top-performing sector in the S&amp;P 500 this year, with the XLE gauge climbing 14%. However, this leading edge is now diminishing as major oil companies such as Exxon Mobil and Chevron pull back.
Together, Exxon and Chevron represent approximately 40% of the holdings in the prominent energy-related ETF, underscoring their significant influence on the sector. 
Should their stocks not rebound, the implications could extend beyond these industry giants, potentially affecting the performance of smaller entities within the sector.
Market reactions: As of 11:15 a.m. ET, Exxon Mobil Corp.&#8217;s shares had dropped nearly 4%, marking their potential worst day since mid-March 2023. 
Chevron Corp.&#8217;s shares declined by a modest 0.8%, threatening to end a seven-day streak of gains. 
Additionally, Phillips 66 experienced a sharp decline, falling 4% and setting up what could be its worst trading day since October 2023.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Energy company</td>
<td>% Weight in XLE</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Exxon Mobil Corporation</td>
<td>23.24</td>
<td>-4.01%</td>
</tr>
<tr>
<td>Chevron Corporation</td>
<td>16.84</td>
<td>-0.80</td>
</tr>
<tr>
<td>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>9.00</td>
<td>-0.46</td>
</tr>
<tr>
<td>EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>4.64</td>
<td>-0.34</td>
</tr>
<tr>
<td>Marathon Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>4.31</td>
<td>-1.34</td>
</tr>
<tr>
<td>Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) </td>
<td>4.15</td>
<td>-0.74</td>
</tr>
<tr>
<td>Phillips 66 </td>
<td>3.97</td>
<td>-4.03</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">updated at 11:15 a.m. EDT</figcaption></figure>
Read Now: <a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se">Gold Glitters On Stagflation Tailwinds: Newmont Soars 13% In Biggest Post-Covid Gain, Leads Mining Sector Surge</a>
This image was created using artificial intelligence MidJourney

US Energy Stocks Fall Following Oil Giants' Subdued Earnings Reports

Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) reported quarterly earnings of $3.16 per share which beat the analyst consensus estimate of $1.69 by 86.98 percent. This is a 179.65 percent increase over earnings of $1.13 per share from the same period last year. The company reported quarterly sales of $3.341 billion which beat the analyst consensus estimate of $2.693 billion by 24.04 percent. This is a 36.20 percent increase over sales of $2.453 billion the same period last year.

Earnings

Earnings Beats

Hess Q1 2024 GAAP EPS $3.16 Beats $1.69 Estimate, Sales $3.341B Beat $2.693B Estimate

Susquehanna analyst Biju Perincheril maintains Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) with a Neutral and raises the price target from $156 to $164.

Price Target

Analyst Ratings

Susquehanna Maintains Neutral on Hess, Raises Price Target to $164

Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) has outperformed the market over the past 5 years by 6.15% on an annualized basis producing an average annual return of 17.45%. Currently, Hess has a market capitalization of $46.45 billion. 
Buying $1000 In HES: If an investor had bought $1000 of HES stock 5 years ago, it would be worth $2,221.13 today based on a price of $150.77 for HES at the time of writing.
<h3>Hess's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713448832_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,200 Today

In the preceding three months, 6 analysts have released ratings for Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), presenting a wide array of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $176.33, a high estimate of $205.00, and a low estimate of $152.00. Surpassing the previous average price target of $170.50, the current average has increased by 3.42%.
<img src="https://www.benzinga.com/files/images/story/2024/1713448828_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The analysis of recent analyst actions sheds light on the perception of Hess by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ryan Todd</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$173.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$205.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Ryan Todd</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$172.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$156.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$200.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$152.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Hess. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Hess compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Hess's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Hess's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/HES/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Hess analyst ratings.</a>
<h2>Get to Know Hess Better</h2>
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2023, the company reported net proved reserves of 1.4 billion barrels of oil equivalent. Net production averaged 391 thousand barrels of oil equivalent per day in 2023, at a ratio of 74% oil and natural gas liquids and 26% natural gas.
<h3>Hess's Economic Impact: An Analysis</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Positive Revenue Trend: Examining Hess's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 2.62% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Hess's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 13.72%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 4.69%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.75%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.07, Hess faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

6 Analysts Assess Hess: What You Need To Know

Piper Sandler analyst Ryan Todd maintains Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) with a Overweight and raises the price target from $172 to $173.

Piper Sandler Maintains Overweight on Hess, Raises Price Target to $173

Yesterday,&nbsp;Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) awarded a large contract to&nbsp;TechnipFMC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTI#NYSE">FTI</a>) for its<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38258485/technipfmc-awarded-large-subsea-contract-for-exxonmobil-guyanas-whiptail-project" rel="noreferrer noopener">&nbsp;Guyana&#8217;s Stabroek Block</a>.
As per the terms, TechnipFMC will supply subsea production systems for the Whiptail project.
In particular, TechnipFMC will offer project management, engineering, and manufacturing to deliver 48 subsea trees and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.
For TechnipFMC, a &#8220;large&#8221; contract is between $500 million and $1 billion. This award will be included in inbound orders in the second quarter of 2024.
Jonathan Landes, President, Subsea at TechnipFMC, said: &#8220;ExxonMobil Guyana will utilize our Subsea 2.0&#xAE; systems and manifolds, which help provide schedule certainty. We have already delivered more than 100 subsea trees for ExxonMobil Guyana – the location of one of the world&#8217;s fastest developing basins – and we look forward to deepening our relationship with them through Whiptail.&#8221;
Last week, Exxon and&nbsp;Hess Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) made a final investment decision for the Whiptail development offshore Guyana following receiving the required&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38221117/guyanas-oil-spigot-wide-open-exxon-hess-sanction-massive-12-7b-oil-project" rel="noreferrer noopener">government and regulatory approvals</a>.&nbsp;
The Whiptail project, worth $12.7 billion, will target an estimated resource base of more than 850 million barrels of oil and include up to 10 drill centers with 48 production and injection wells.
Investors can gain exposure to the XOM stock via&nbsp;Energy Select Sector&nbsp;SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S. Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are down 0.74% at $118.807 on the last check Tuesday.
Photo: Del Henderson Jr. via Shutterstock

Exxon Taps TechnipFMC For Subsea Gear In Guyana's $12.7B Whiptail Project

Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and&nbsp;Hess Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) made a final investment decision for the Whiptail development offshore Guyana following receiving the required&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38217975/exxonmobil-guyana-moves-forward-with-sixth-offshore-development" rel="noreferrer noopener">government and regulatory approvals</a>.&nbsp;
The Whiptail project, worth $12.7 billion, will target an estimated resource base of more than 850 million barrels of oil and include up to 10 drill centers with<a target="_blank" href="https://www.benzinga.com//node/38218201" rel="noreferrer noopener">&nbsp;48 production and injection wells.</a>
Notably, ExxonMobil Guyana Limited holds 45% interest in the Stabroek block, Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37259657/exxon-considers-natural-gas-project-in-guyana-report" rel="noreferrer noopener">Exxon Considers Natural Gas Project In Guyana: Report</a>
Whiptail, the sixth project on the Stabroek block, is projected to add around 250,000 barrels of daily capacity by the end of 2027.
The Stabroek Block is 6.6 million acres, and the production from the six Stabroek Block developments is expected to generate tens of billions of dollars of revenue.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38143113/guyanas-oil-spigot-sputters-production-delays-reportedly-hit-revenue" rel="noreferrer noopener">Guyana&#8217;s Oil Spigot Sputters: Production Delays Reportedly Hit Revenue</a>
The cumulative spend of ExxonMobil Guyana and its contractors with Guyanese suppliers since 2015 surpassed $1.5 billion at the end of 2023.
The Floating Production Storage and Offloading (FPSO) vessel for the Whiptail project (to be named Jaguar) is under construction, and three FPSOs are currently operating and producing over 600,000 barrels of oil daily.&nbsp;
The companies said that the construction is underway on FPSOs for the Yellowtail and Uaru projects, with Yellowtail and Uaru anticipated to start production in 2025 and 2026, respectively.
&#8220;We are excited to sanction Whiptail, our sixth oil development on the Stabroek Block, and remain on track to have six FPSOs online by the end of 2027 with a total gross production capacity of approximately 1.3 million barrels of oil per day,&#8221; Hess Corp CEO John Hess said.&nbsp;
Price Action: XOM shares are up 1.29% at $123.36, and HES shares are up 0.47% at $158.38 on the last check Friday.
Photo via Shutterstock

Guyana's Oil Spigot Wide Open: Exxon, Hess Sanction Massive $12.7B Oil Project

Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) today announced it has made a final investment decision to proceed with Whiptail, the sixth development on the Stabroek Block, after receiving government and regulatory approvals. Whiptail is expected to add gross production capacity of approximately 250,000 barrels of oil per day by the end of 2027.
The&nbsp;$12.7 billion&nbsp;Whiptail development will target an estimated resource base of more than 850 million barrels of oil and include up to 10 drill centers and 48 production and injection wells. The floating production, storage and offloading (FPSO) vessel for Whiptail, which will be called Jaguar, is under construction.

Hess Corp to Launch Whiptail, A New Oil Development Expected to Yield 250,000 Barrels Daily by 2027

Chevron&nbsp;Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) Chief Executive Officer Michael Wirth saw a significant increase in his&nbsp;<a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000093410/000119312524091327/d557504ddef14a.htm" rel="noreferrer noopener">pay</a>&nbsp;in 2023, reaching $26.5 million, marking over 12% rise from the previous year.
This rise in compensation stands above the median pay raise for the company&#8217;s employees, according to a filing disclosed on Wednesday.
The disclosed numbers highlight a gap between executive compensation and the earnings of Chevron&#8217;s workforce, consisting of 45,511 employees.
The median annual pay for Chevron employees worldwide climbed to $175,673 in 2023. In 2022, the medium compensation for workers had declined 12% to $161,488, while Wirth&#8217;s pay had increased 4%, Reuters reported.
Chevron attributed Wirth&#8217;s compensation to his successful execution of the company's financial priorities, including dividends, maintaining capital discipline in traditional and new energies, reducing debt by over $4 billion, and repurchasing $14.9 billion shares.
Wirth&#8217;s compensation was also positively influenced by Chevron&#8217;s proposed acquisition of oil producer&nbsp;Hess&nbsp;Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), which strengthened the advantaged portfolio.
However, this acquisition faces scrutiny from rival Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) through an <a href="https://www.benzinga.com//node/37795056">arbitration process.</a>
Notably, Chevron allocated a record $26.3 billion to shareholders through dividends and buybacks in 2023, reflecting an 18% increase from 2022.
Another noteworthy executive, Mark Nelson, who was promoted to vice chair, received a substantial pay increase of 61.5% in 2023, bringing his compensation to $12.2 million.
Price Action: CVX shares are trading lower by 0.53% at $161.15 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Jonathan Weiss on Shutterstock

Media

General

Behind The Numbers: Chevron CEO's Pay Soars To $26.5M

Three energy stocks are among the top 10 performers within the S&amp;P 500 since the beginning of the year, representing a significant paradigm shift compared to the underperformance of the <a href="https://www.benzinga.com/money/best-energy-stocks">energy sector throughout 2023.</a>
A significant factor contributing to the outperformance of energy stocks since the year&#8217;s onset has been the sharp increase in oil prices.
The West Texas Intermediate (WTI) light crude, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), has risen by 20% year to date. This surge can be attributed to a combination of factors including growing demand, limited OPEC+ supply, and escalating tensions in the Middle East, particularly between Israel and Iran.
According to the latest forecast from the U.S. Energy Information Administration (EIA), the Brent crude oil spot price is expected to average $90 per barrel in the second quarter of 2024, which is $2 higher than previous estimates. 
The forecast for the average price in 2024 is $89 per barrel. This uptick reflects the EIA&#8217;s anticipation of substantial global oil inventory declines during this quarter and ongoing geopolitical uncertainties.
Additionally, the retail gasoline price is projected to average $3.60 per gallon in 2024, up from the previous estimate of $3.50 per gallon.
As of April 9, 2024, the&nbsp;EnergySelect Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) is up 16% year-to-date, outperforming all other S&amp;P 500 sectors.
<h1 class="wp-block-heading">3 Energy Firms Among Top 10 S&amp;P 500 Performers Year to Date</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (YTD)</td>
<td>Sector</td>
</tr>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>215.81%</td>
<td>Information Tech</td>
</tr>
<tr>
<td>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>70.28%</td>
<td>Information Tech</td>
</tr>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>59.83%</td>
<td>Utilities</td>
</tr>
<tr>
<td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>44.88%</td>
<td>Communication Services</td>
</tr>
<tr>
<td>Marathon Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>42.65%</td>
<td>Energy</td>
</tr>
<tr>
<td>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)</td>
<td>42.55%</td>
<td>Information Tech</td>
</tr>
<tr>
<td>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</td>
<td>39.77%</td>
<td>Utilities</td>
</tr>
<tr>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>38.09%</td>
<td>Information Tech</td>
</tr>
<tr>
<td>Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>36.10%</td>
<td>Energy</td>
</tr>
<tr>
<td>Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>32.23%</td>
<td>Energy</td>
</tr>
</tbody>
</table>
</figure>
<h1 class="wp-block-heading">U.S. Energy Companies Report Their Earnings In April 2024</h1>
Below is a list of large-cap U.S. energy stocks set to report their first quarter 2024 earnings by the end of April: 
<ul>
<li>Friday, Apr. 12, 2024: Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) </li>
<li>Friday, Apr. 19, 2024: Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), Woodside Energy Group ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) </li>
<li>Tuesday, Apr. 23, 2024: Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) </li>
<li>Wednesday, Apr. 24, 2024: Cenovus Energy Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>), EQT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) </li>
<li>Thursday, Apr. 25, 2024: Valero Energy, Hess Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) </li>
<li>Friday, Apr. 26, 2024: Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), Imperial Oil Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMO#NYSE">IMO</a>). </li>
<li>Tuesday, Apr. 30, 2024: Marathon Petroleum, ONEOK Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>), Diamondback, Cameco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>)</li>
</ul>
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3 Energy Stocks Stand Among S&P 500's Top 10 Performers In 2024 As Oil Prices Reach $90

Hess Corp Says Will Be Holding A Separate Special Meeting Of Stockholders To Vote On The Proposed Merger With Chevron, Vote Will Not Be At The Annual Meeting Of Stockholders Will Be Held On Wednesday, May 15, 2024

Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) has outperformed the market over the past 5 years by 7.6% on an annualized basis producing an average annual return of 20.33%. Currently, Hess has a market capitalization of $48.45 billion. 
Buying $1000 In HES: If an investor had bought $1000 of HES stock 5 years ago, it would be worth $2,500.63 today based on a price of $157.74 for HES at the time of writing.
<h3>Hess's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712242863_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,500 Today

Hess's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) short percent of float has fallen 18.87% since its last report. The company recently reported that it has 5.19 million shares sold short, which is 2.58% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.58 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Hess Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712085320_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Hess has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Hess's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Hess's peer group average for short interest as a percentage of float is 6.83%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Hess's Recent Short Interest

A substantial insider sell was reported on March 21, by Andrew P Slentz, Senior Vice President at Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), based on the recent SEC filing.
What Happened: Slentz's decision to sell 20,254 shares of Hess was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000004447/000095017024034777//Archives/edgar/data/4447/000095017024034777/0000950170-24-034777-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The total value of the sale is $3,060,073.
At Friday morning, Hess shares are down by 0.0%, trading at $149.34.
<h3>Get to Know Hess Better</h3>
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.
<h3>A Deep Dive into Hess's Financials</h3>
Revenue Growth: Hess displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 2.62%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Key Insights into Profitability Metrics:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 63.7%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Hess's EPS reflects a decline, falling below the industry average with a current EPS of 1.344584.
</li>
</ul>
Debt Management: Hess's debt-to-equity ratio surpasses industry norms, standing at 1.07. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
In-Depth Valuation Examination:
<ul>
<li>
Price to Earnings (P/E) Ratio: Hess's current Price to Earnings (P/E) ratio of 33.26 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 4.37 is above industry norms, reflecting an elevated valuation for Hess's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): A high EV/EBITDA ratio of 10.46 positions the company as being more valued compared to industry benchmarks.
</li>
</ul>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
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<h3>Unmasking the Significance of Insider Transactions</h3>
Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Exploring Key Transaction Codes</h3>
Navigating through the landscape of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, precisely detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000004447">Check Out The Full List Of Hess's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Unloading: Andrew P Slentz Sells $3.06M Worth Of Hess Shares

Disclosed on March 21, Geurt G Schoonman, Senior Vice President at Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: Schoonman opted to sell 13,921 shares of Hess, according to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000004447/000095017024034781//Archives/edgar/data/4447/000095017024034781/0000950170-24-034781-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The transaction's total worth stands at $2,103,130.
Hess's shares are actively trading at $149.43, experiencing a up of 0.06% during Friday's morning session.
<h3>Discovering Hess: A Closer Look</h3>
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.
<h3>Hess's Economic Impact: An Analysis</h3>
Revenue Growth: Hess's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 2.62%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: With a high gross margin of 63.7%, the company demonstrates effective cost control and strong profitability relative to its peers.
</li>
<li>
Earnings per Share (EPS): Hess's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 1.344584.
</li>
</ul>
Debt Management: Hess's debt-to-equity ratio stands notably higher than the industry average, reaching 1.07. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 33.26 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 4.37 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 10.46, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
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<h3>Why Pay Attention to Insider Transactions</h3>
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Transaction Codes To Focus On</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000004447">Check Out The Full List Of Hess's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Hess Senior Vice President Trades Company's Stock

Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) has been analyzed by 5 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $177.0, along with a high estimate of $205.00 and a low estimate of $152.00. Marking an increase of 4.0%, the current average surpasses the previous average price target of $170.20. 
<img src="https://www.benzinga.com/files/images/story/2024/1710936088_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Hess by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$205.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Ryan Todd</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$172.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$156.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$200.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$152.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Hess. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Hess compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Hess's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Hess's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/HES/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Hess analyst ratings.</a>
<h2>About Hess</h2>
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.
<h3>Hess: A Financial Overview</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Hess displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 2.62%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Hess's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 13.72%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Hess's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 4.69%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.75%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.07, caution is advised due to increased financial risk.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Hess: Insights From 5 Analyst Reviews

Mizuho analyst Nitin Kumar maintains Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) with a Neutral and raises the price target from $200 to $205.

Mizuho Maintains Neutral on Hess, Raises Price Target to $205

Chevron Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) Chevron New Energies inked a signed Memorandum Of Understanding (MOU) with&nbsp;JX Nippon Oil &amp; Gas Exploration Corporation&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/b37810213/chevron-and-jx-sign-mou-for-collaboration-on-development-of-ccs-value-chain" rel="noreferrer noopener">to develop the CCS value chain</a>.
The deal will provide a framework to evaluate the export of Carbon Dioxide (CO₂) from Japan to Carbon Capture and Storage (CCS) projects in Australia and other countries in the Asia Pacific region.
The MOU will assess the feasibility of the CCS value chain, which comprises the capture of CO₂ emitted from industries in Japan.&nbsp;
This includes JX&#8217;s affiliates and transportation by ship from Japan to Chevron&#8217;s greenhouse gas storage portfolio in Australia.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37440931/chevron-halts-biodiesel-production-amid-market-challenges-unveils-green-hydrogen-initiative" rel="noreferrer noopener">Chevron Halts Biodiesel Production Amid Market Challenges, Unveils Green Hydrogen Initiative</a>
The companies will also explore the opportunity to create suitable transboundary policies and the potential development of CO₂ storage sites in other countries in the Asia Pacific region.
Chris Powers, Vice President of Carbon Capture, Utilization, and Storage (CCUS) at Chevron, said, &#8220;We believe large-scale CCS value chain projects will play a key role in advancing Asia Pacific&#8217;s lower carbon aspirations, and that long-term collaborations are necessary to meet these aspirations.&#8221;
In another development, Chevron was surprised when&nbsp;Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) filed for arbitration over its plans to buy&nbsp;Hess Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) Guyana oilfield stake, as per Reuters, which quoted Chevron CEO Michael Wirth.
As per the report, the dispute threatens to derail Chevron&#8217;s $53 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/10/35369568/oil-gas-giant-chevron-agrees-to-acquire-hess-corp-at-a-premium" rel="noreferrer noopener">takeover of Hess</a>.&nbsp;
Meanwhile, Exxon says it has the right of first refusal for Hess&#8217;s stake. The report cited Wirth, who said Chevron had been in talks with Exxon about the matter.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37795056/exxon-ceo-denies-interest-in-buying-hess-focuses-on-preemption-rights-in-dispute-with-chevron-re" rel="noreferrer noopener">Exxon CEO Denies Interest in Buying Hess, Focuses on Preemption Rights In Dispute with Chevron: Report</a>
Price Action: CVX shares are trading higher by 0.61% at $156.36 on the last check Tuesday.
Photo by Jonathan Weiss on Shutterstock

Chevron, JX Nippon Set Sail on CO2 Storage Voyage Across Asia Pacific

Chevron CEO Says Was Surprised When Exxon Filed For Arbitration Over Guyana Hess Stake

Notable earnings before Thursday's open

Hess GAAP EPS of $3.16 beats by $1.50, revenue of $3.31B beats by $160M

Chevron, Hess extend merger completion date by six months

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Hess (NYSE:<a href="https://investorplace.com/stock-quotes/hes-stock-quote/">HES</a>) just reported results for the first quarter of 2024.<ul><li>Hess reported earnings per share of $3.16. This was above the analyst estimate for EPS of $1.69.</li><li>The company reported revenue of $3.34 billion.</li><li>This was 24.20% better than the analyst estimate for revenue of $2.69 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/hes-stock-earnings-hess-for-q1-of-2024/">HES Stock Earnings: Hess Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

HES Stock Earnings: Hess Beats EPS, Beats Revenue for Q1 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Oil prices have surged approximately 15% this year, hovering near $90 a barrel with expectations of remaining at elevated geopolitical tensions. This <a href="https://tokenist.com/oil-prices-rise-amid-conflicts-in-the-middle-east-brent-crude-at-80/" target="_blank">rise in oil prices</a> was fueled by increasing tensions between Iran and Israel, raising concerns about broader conflicts in the Middle East. In this piece, we look at three energy plays to gain exposure to the rising oil prices through <a href="https://investorplace.com/industries/energy/">energy stocks.</a>



Such developments have led to increased market volatility, with significant impacts on oil prices, bonds, commodities and global stocks, which experienced a sharp drop last Friday. Amid these tensions, oil prices tend to outperform as well as safe-haven assets like government bonds and gold. 



Although the market movements were relatively modest, the ongoing uncertainty has reignited fears of sustained high oil prices and potential supply disruptions, which could perpetuate high inflation levels. While the current situation doesn&rsquo;t look like it will escalate into a wider conflict, it still warrants a heightened risk premium on oil. 



The International Monetary Fund warned that an escalation could lead to a 15% spike in oil prices and additional shipping costs, potentially raising global inflation by approximately 0.7%.



&ldquo;A geopolitical risk premium appears to have been built into the oil price, but, clearly, further escalation presents further upside risks,&rdquo; <a href="https://www.reuters.com/markets/global-markets-middle-east-graphic-2024-04-19/" target="_blank">said</a> Thomas McGarrity, head of equities at RBC (NYSE:<a href="https://investorplace.com/stock-quotes/ry-stock-quote/">RY</a>) Wealth Management.



Also contributing to the tight oil supply and rising prices are production cuts by OPEC and other major producers. In response, Morgan Stanley (NYSE:<a href="https://investorplace.com/stock-quotes/ms-stock-quote/">MS</a>) has adjusted its third-quarter forecast for Brent crude to $94. Along these lines, energy stocks have benefited from these trends, with notable gains in both U.S. and European markets.



&ldquo;The rise in oil prices complicates central banks&rsquo; efforts to bring inflation back down to target levels. Having exposure to the energy sector arguably provides the best hedge to both inflation and geopolitical risks in equity portfolios near term,&rdquo; said RBC&rsquo;s McGarrity. 



<h2>Chevron (CVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/12/chevron1600-300x169.jpg" alt='Chevron (CVX) sing with "diesel," "food mart" and "car wash" written underneath'><div>Source: Sundry Photography / Shutterstock.com</div></div>Chevron (NYSE:<a href="https://investorplace.com/stock-quotes/cvx-stock-quote/">CVX</a>), one of the world&rsquo;s leading integrated energy stocks, benefits significantly from higher oil prices due to its extensive upstream operations, which include exploration, extraction and production of crude oil and natural gas. The increase in oil prices directly boosts Chevron&rsquo;s revenue and margins, particularly in its upstream segment. 



Moreover, Chevron&rsquo;s pending acquisition of Hess Energy (NYSE:<a href="https://investorplace.com/stock-quotes/hes-stock-quote/">HES</a>) is <a href="https://www.chevron.com/newsroom/2023/q4/chevron-announces-agreement-to-acquire-hess" target="_blank">expected</a> to expand its asset portfolio and enhance its ability to capitalize on rising oil prices. The acquisition notably includes the Stabroek block in Guyana, a standout asset due to its exceptional cash margins and low carbon intensity. 



This asset is not only profitable but aligns with the growing industry priority on sustainable energy production, expected to continue delivering production growth well into the next decade. Furthermore, Hess&rsquo;s Bakken assets enhance Chevron&rsquo;s existing U.S. shale operations in the DJ and Permian basins. The inclusion strengthens Chevron&rsquo;s domestic energy capabilities, further bolstering its position in significant U.S. shale regions. 



Chevron stock is up 9% year-to-date (YTD), which suggests there&rsquo;s more upside to come if oil prices can stay at these levels or even increase amid tensions in the Middle East.



<h2>ExxonMobil (XOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/exxon-stock-1-300x169.jpg" alt="Exxon Retail Gas Location"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>ExxonMobil (NYSE:<a href="https://investorplace.com/stock-quotes/xom-stock-quote/">XOM</a>) is another major player in the oil and gas industry. The company is well-positioned to benefit from rising oil prices given its extensive upstream activities, which are the most significant contributors to its earnings.



ExxonMobil&rsquo;s integrated business model allows it to capture value across the oil and gas chain, although its downstream operations might suffer from higher feedstock costs when oil prices are high. 



The company&rsquo;s decision to <a href="https://www.nytimes.com/2023/10/11/business/economy/exxon-mobil-pioneer-natural-resources.html" target="_blank">acquire</a> Pioneer Natural Resources (NYSE:<a href="https://investorplace.com/stock-quotes/pxd-stock-quote/">PXD</a>) for $59.5 billion signifies a major commitment to fossil fuel production, despite growing global concerns over climate change. However, this deal, the largest since Exxon&rsquo;s merger with Mobil in 1999, positions ExxonMobil&rsquo;s operational future, predominantly in Texas and the Guyana coast. Those areas are known for their substantial oil reserves.



ExxonMobil stock is up almost 20% YTD as energy investors see this company as the best-positioned to gain exposure to the oil sector and rising prices. 



<h2>Shell (SHEL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/royal-dutch-shell-rds1600-300x169.jpg" alt="Shell logo on a gas station in Iceland. SHEL stock"><div>Source: JuliusKielaitis / Shutterstock.com</div></div>Shell (NYSE:<a href="https://investorplace.com/stock-quotes/shel-stock-quote/">SHEL</a>), with its dual focus on oil and gas and a growing interest in renewable energy, is also significantly impacted by fluctuations in oil prices. The company&rsquo;s upstream operations, which involve oil and gas exploration and production, benefit directly from higher oil prices, improving profit margins and cash flow. 



The company&rsquo;s natural gas trading division has become significantly profitable, especially following Russia&rsquo;s invasion of Ukraine, which heightened price volatility. That is particularly evident in the liquefied natural gas sector, where sales have surged following the completion of maintenance at crucial projects.



Shell stock received a boost earlier this month following a first-quarter guidance update that analysts generally viewed as positive. The update highlighted increased volumes and improved margins in energy stocks. However, the company <a href="https://www.marketwatch.com/story/shell-expects-significantly-lower-gas-trading-results-in-q1-following-bumper-performance-in-q4-27643651" target="_blank">noted</a> the integrated gas trading results, while strong, would be &ldquo;significantly lower than an exceptional&rdquo; fourth quarter.



Shell shares are up 11% YTD.



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines.</a>
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/crude-awakening-3-energy-plays-set-to-strike-liquid-gold-for-investors/">Crude Awakening: 3 Energy Plays Set to Strike Liquid Gold for Investors</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Crude Awakening: 3 Energy Plays Set to Strike Liquid Gold for Investors

Chevron expects to receive HSR approval for Hess within a few weeks  -  CNBC

Chevron CEO expects to receive HSR approval for Hess within a few weeks  -  CNBC

Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) announced better-than-expected revenues in the first quarter. The company generated Q1 revenues of $48.72 billion, which decline...

CVX Earnings: Chevron's Q1 Revenues Beat Estimates

Chevron CEO expects to receive HSR approval for Hess within a few weeks  -  CNBC (update)

Exxon CEO reiterates that he's not interested in buying Hess

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Press Releases

Kuehn Law Encourages ETRN, SCX, TAST, and HES Investors to Contact Law Firm

SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates HES, JNPR, TGAN, HMST

Hess Schedules Earnings Release Date

Hess Sanctions Whiptail Development Offshore Guyana

The Value Unlocker: Why Ed Breen Makes Investors Money

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HES, ANSS, NS

Kuehn Law Encourages MCBC, HES, MGRC, and ANSS Investors to Contact Law Firm

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MCBC, HES, MGRC, ANSS

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates TARO, HES, ANSS

Hess Reports Estimated Results for the First Quarter of 2024

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