Analyst Questions 'What Could Hess Be Worth?' As Chevron Advances In Acquisition Efforts
Portfolio Pulse from Lekha Gupta
Hess Corporation and Chevron Corporation shares are trading higher following the FTC's completion of an antitrust review for their merger. Analysts have raised Hess' valuation due to increased resources in Guyana, and Hess is seen as a compelling value opportunity. Wolfe Research upgraded Hess, citing attractive risk/reward profiles in various scenarios, including a potential merger with Chevron.
October 01, 2024 | 6:45 pm
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NEUTRAL IMPACT
Exxon Mobil Corp has asserted its right of first refusal to any sale of Hess' stake in a Guyana joint venture. This could impact the merger dynamics between Hess and Chevron.
Exxon's assertion of its right of first refusal on Hess' Guyana stake introduces a potential complication in the merger with Chevron, but the arbitration is not expected until 2025, limiting immediate impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Chevron Corporation's shares are trading higher following the FTC's completion of an antitrust review for its merger with Hess. The merger is seen as a positive development, potentially closing the valuation gap between the two companies.
The FTC's completion of the antitrust review is a critical step towards the merger with Hess, which is expected to be beneficial for Chevron by potentially closing the valuation gap between the two companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Hess Corporation's shares are trading higher due to the FTC's completion of an antitrust review for its merger with Chevron. Analysts have raised Hess' valuation, citing increased resources in Guyana, and see it as a compelling value opportunity.
The completion of the FTC's antitrust review is a significant step towards the merger with Chevron, boosting investor confidence. Analysts have raised Hess' valuation due to increased resources in Guyana, further supporting a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100