Earnings summaries and quarterly performance for HESS.
Executive leadership at HESS.
Board of directors at HESS.
Research analysts covering HESS.
Recent press releases and 8-K filings for HES.
Hess exploration team integrated into Chevron strategy
HES
M&A
Layoffs
New Projects/Investments
- Chevron merged Hess’s exploration team with its own to overhaul its upstream exploration approach after completing the $53 billion acquisition.
- Approximately 650 Hess jobs were cut, but exploration personnel were retained due to Hess’s success in Guyana’s Stabroek Block, which holds 11 billion barrels of recoverable resources.
- The combined team will target multiple regions—including South America, West Africa, and the Eastern Mediterranean—with plans to drill an exploration well in Suriname later this year.
- Financial analysts maintain a positive outlook on Chevron, with an average price target implying nearly 10% upside and a consensus ‘Outperform’ rating.
Aug 19, 2025, 8:50 PM
Chevron reports Q2 2025 results
HES
Earnings
M&A
Share Buyback
- Chevron reported $2.5 billion in earnings (diluted $1.45 per share) and $3.1 billion in adjusted earnings (diluted $1.77 per share) for Q2 2025, down from $4.4 billion (diluted $2.43) and $4.7 billion (diluted $2.55) in Q2 2024.
- Achieved record production, including 1 million boe/day in the Permian Basin and new company-wide production highs.
- Completed the acquisition of Hess Corporation in July, adding high-quality assets in Guyana, the U.S. Bakken and the Gulf of America.
- Returned $5.5 billion to shareholders in Q2 (share repurchases of $2.6 billion and dividends of $2.9 billion).
Aug 1, 2025, 10:15 AM
Hess Midstream reports Q2 2025 results
HES
Earnings
Share Buyback
Guidance Update
- Hess Midstream posted net income of $179.7 million, net income attributable of $90.3 million (EPS $0.74), Adjusted EBITDA of $316.0 million, and Adjusted Free Cash Flow of $193.8 million in Q2 2025.
- Completed $190.0 million repurchase of Class B units and $10.0 million repurchase of Class A shares; increased quarterly cash distribution by $0.0272 to $0.7370 per Class A share.
- Achieved year-over-year throughput growth of 7% in gas processing, 9% in oil terminaling, and 11% in water gathering.
- Updated full-year 2025 guidance with net income of $685 – 735 million and reaffirmed Adjusted EBITDA guidance of $1,235 – 1,285 million.
Jul 30, 2025, 12:00 PM
Hess Midstream leadership reshaped after Chevron board takeover
HES
Board Change
CEO Change
CFO Change
- Following Chevron’s $53 billion acquisition of Hess, Chevron now holds a 37.8% stake in Hess Midstream, prompting board and leadership realignment.
- Key Hess-appointed directors John B. Hess, Gregory P. Hill, and John P. Rielly departed the board; Chevron’s Andy Walz was appointed chairman, joined by two Chevron directors alongside three existing independent directors, with a fourth to be appointed.
- Long-time CFO Jonathan C. Stein was named CEO and Michael J. Chadwick, a Hess veteran, became CFO, reflecting Chevron-led integration of management.
- Hess Midstream’s market capitalization stands at $8.07 billion with a 7.39% dividend yield, following eight consecutive years of dividend increases.
Jul 18, 2025, 1:12 PM
Quarterly earnings call transcripts for HESS.
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