Hess Corporation Trading Volume Plummets 38.86 Percent to $256 Million Ranking 349th as Chevron Acquisition Looms

On May 28, 2025, Hess Corporation (HES) experienced a significant decline in trading volume, with a 38.86% decrease from the previous day, resulting in a total trading volume of $256 million. This placed Hess at the 349th position in terms of trading volume for the day. The stock price of Hess also decreased by 1.14%.

Warren Buffett, the renowned investor and CEO of Berkshire Hathaway, has expressed concerns about the current state of the stock market and the economy. In the first quarter of 2025, Berkshire Hathaway sold a net of $1.5 billion in stocks, including shares of Bank of America, Citigroup, and T-Mobile. This marks the tenth consecutive quarter that Berkshire Hathaway has been a net seller of stocks, resulting in a significant increase in its cash holdings, which now total $347 billion. Buffett's cautious approach to the market may have influenced investor sentiment towards energy stocks, including Hess.

Chevron Corporation, an American multinational energy corporation, has announced its plans to acquire all outstanding shares of Hess Corporation in an all-stock transaction valued at $53 billion. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron stock for each Hess share held. The transaction, which has already been approved by the Federal Trade Commission, is expected to close this summer. This acquisition could potentially impact the stock price of Hess, as investors may anticipate the benefits of being part of a larger, more diversified energy company.