To get the latest Hess stock quote, you can check the company's official website or look up reputable financial websites such as Yahoo Finance or Google Finance.
Hess Corporation is a leading global independent energy company that operates in the upstream, midstream, and downstream sectors.
Their stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol HES.
You can also download a stock app on your mobile device, such as Robinhood or Fidelity, to stay up-to-date on the latest stock prices and trends.
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Hess Stock Quote
Hess Corporation's stock performance is a key indicator of its financial health.
To get a sense of the company's past financial performance, you can check its revenue and net income.
Hess Corporation's past financial performance is a mixed bag, with some years showing significant growth and others experiencing decline.
Its revenue has fluctuated over the years, with some years seeing a significant increase.
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In terms of market value, Hess Corporation's current stock price is a reflection of its overall performance.
The company's current market value is a result of its past performance, including its revenue and net income.
Hess Corporation's stock price has been influenced by various factors, including changes in the global energy market.
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Financial Information
Hess Corporation's financial performance in 2023 was a decrease in revenue to $10.30 billion, a drop of -6.99% compared to the previous year's $11.07 billion.
The company's earnings also took a hit, plummeting to $1.38 billion, a decrease of -34.06% from the previous year.
Hess Corporation's sales have been steadily increasing over the years, with a notable jump of 54.34% in 2022 compared to 2019.
However, in 2023, sales took a hit, decreasing by -10.14% to $10,701.00 million.
Here's a breakdown of the company's income statements for the past few years:
As you can see, the company's sales have been on a rollercoaster ride over the years, with some significant increases and decreases.
The company's gross profit on sales has also been fluctuating, decreasing by -25.89% in 2023 compared to the previous year.
Hess Corporation's operating income has been steadily increasing over the years, with a notable jump of 96.04% in 2022 compared to 2019.
However, in 2023, operating income decreased by -27.72% to $3,218.00 million.
The company's income before tax has also been fluctuating, decreasing by -30.32% in 2023 compared to the previous year.
Hess Corporation's income after tax has been steadily decreasing over the years, with a notable drop of -34.06% in 2023 compared to the previous year.
Analyst Forecast and Outlook
According to the analyst forecast, the average rating for HES stock is "Buy".
This positive outlook is based on the consensus of 10 analysts who have analyzed the stock.
The 12-month stock price forecast is a significant increase of 17.96% from the latest price, with an estimated value of $171.1.
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Analyst Forecast
The average rating for HES stock is "Buy" from 10 analysts, a strong indication of their confidence in the stock's potential.
According to their forecasts, the 12-month stock price is expected to reach $171.1, a 17.96% increase from the latest price.
This optimism is not unfounded, as Hess Corp has recently beaten estimates for third-quarter profit, thanks to higher oil production in Guyana.
The company's strong performance is a testament to its ability to capitalize on emerging opportunities in the oil market.
Hess CEO John Hess has also expressed an upbeat outlook on oil demand, citing Guyana's potential as barely scratched.
Should You Buy Chevron Before Earnings?
The energy sector is experiencing a sharp rebound following a significant escalation in Middle Eastern tensions after Iran launched a missile attack on Israel on October 1.
The FTC has approved the merger between Chevron Corporation CVX and Hess Corporation, which could have a positive impact on Chevron's stock.
Chevron's earnings are approaching, and investors may be wondering if they should buy before the release.
The merger between Chevron and Hess could bring in new revenue streams, potentially boosting Chevron's stock price.
Investors should consider the FTC's approval of the merger and its potential impact on Chevron's earnings.
The energy sector's rebound could also be a good sign for Chevron's stock, but it's essential to wait for the actual earnings release to make an informed decision.
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Chevron Merger and Acquisition
The Chevron merger and acquisition with Hess is a significant deal that has been making headlines. The U.S. Federal Trade Commission (FTC) has approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess.
The FTC has also banned John Hess, the CEO of Hess, from joining Chevron's board due to concerns about his previous actions. This move is a result of the FTC's allegations that John Hess encouraged senior officials at OPEC to draw down inventories, which would result in higher oil prices.
The energy sector is experiencing a sharp rebound following a significant escalation in Middle Eastern tensions. This has led to a surge in oil prices, making it a good time for investors to consider buying stocks in the energy sector, including Hess.
Hess Corporation shares are trading higher on Tuesday, following the news of the FTC's approval of the merger. The company has also announced that it has received HSR clearance for the Chevron-Hess merger.
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The Federal Trade Commission (FTC) completed antitrust review of the company's merger with Hess Corporation. The FTC allowed Chevron's $53 billion purchase of Hess Corp, but barred Hess CEO John Hess from Chevron's board.
The Chevron-Hess merger has cleared FTC antitrust review, marking a significant milestone in the deal. The merger is valued at $53 billion and is one of the largest in the energy sector.
Chevron Corporation (NYSE: CVX) today announced the Federal Trade Commission (FTC) completed antitrust review of the company's merger with Hess Corporation (NYSE: HES).
Frequently Asked Questions
Is Hess a good stock to buy today?
Hess has a Moderate Buy rating from 12 Wall Street analysts, indicating a potential 27.32% increase from its current price. Consider investing in Hess if you're looking for a stock with growth potential.
Why is Hess stock dropping?
Hess stock is dropping due to a lengthy delay in the Chevron sale, which has been pushed back to the second half of 2025. The delay is attributed to an arbitration panel's decision to hear a challenge to the sale, which will not meet until next May.
Is Hess a publicly traded company?
Yes, Hess went public in 1962 after a merger with Cletrac Corporation, a farm equipment manufacturer. This marked the beginning of its history as a publicly traded company.
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