13 Best Energy Stocks to Buy Right Now

Page 8 of 11

4. Hess Corporation (NYSE:HES

No. of Hedge Fund Holders: 92

Hess Corporation (NYSE:HES) is a leader in deepwater development and production, with top-quartile performance in offshore drilling and project delivery. The company is one of the largest gross-operated deepwater producers in the Gulf of America, with offshore assets also in Asia Pacific and South America.

Hess Corporation (NYSE:HES) beat profit estimates in Q1 2025 despite weak oil prices, reporting an adjusted EPS of $1.81 against expectations of $1.61. However, the company’s revenue of $2.94 billion fell below expectations by $67.3 million. The company’s Guyana output fell 3.7% to 183,000 bopd during the quarter, while total production remained flat at 476,000 boepd. These numbers are expected to receive a boost as Hess revealed that its fourth floating oil production facility in Guyana, with an initial gross production capacity of approximately 250,000 bopd, is expected to start up in the third quarter of 2025.

Hess Corporation (NYSE:HES) is set to be acquired by the oil supermajor Chevron in a $53 billion deal, once it clears an arbitration challenge filed by Exxon and CNOOC over its Guyana assets. The court hearing for the dispute is set for May 26. However, Chevron seems confident in completing the planned acquisition and has already bought about 4.99% of Hess Corporation’s common shares earlier this year.

Page 8 of 11