Hess Corp
HES: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$278.00 | Nqtlh | Djxxqrky |
Hess Earnings: Deal Premium Over Our Stand-Alone Valuation Narrows Due Strong Productivity
Narrow-moat Hess Corp posted results in line with PitchBook consensus, building off the volume gains from last quarter because of production in the on-shore Bakken. Guyana's volumes, poised to decline next quarter, were flat sequentially. Next quarter will see volumes decline 2% from this quarter because of necessary maintenance in Guyana, and we expect production to stay around that level until the next phase comes online in early 2025.