15 Best Large Cap Energy Stocks to Buy According to Hedge Funds

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7. Hess Corporation (NYSE:HES

No. of Hedge Funds Holders: 80

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) is set to be taken over by Chevron in a $53 billion deal, but the move has been delayed due to an arbitration dispute filed by Exxon and China’s CNOOC – Hess’ partners in Guyana. The two companies claim that they have a contractual right of first refusal to purchase Hess’ stake in the prolific Guyana field, and the case is currently being analyzed by the International Chamber of Commerce in London. If Chevron and Hess lose the arbitration and are unable to agree on an acceptable resolution with Exxon and CNOOC, the acquisition would fail, according to the terms of the deal.

In the meantime, Hess Corporation (NYSE:HES) reported a 43% YoY drop in adjusted profit for the first quarter of 2025, but still managed to beat Wall Street expectations. The declining crude prices took a toll on the company’s earnings as its average realized crude oil selling price fell to $71.22 per barrel in Q1, compared to $80.06 a barrel a year ago.

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