Hess Corp

HES: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$282.00	Vbykq	Vwnhcmspl

Hess Earnings: Deal Premium Over Our Stand-Alone Valuation Narrows Due Strong Productivity

Stephen Ellis ,

Jul 31, 2024

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.

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