Hess Corporation (HES) Drops 2.22% Amid Acquisition Uncertainty

Hess Corporation (HES) shares rose 1.05% today, marking a significant intraday decline of 2.22% and reaching its lowest level since September 2024.

Hess Corporation's stock price has been significantly influenced by the pending acquisition by Chevron. The company announced that it will not hold a conference call due to this acquisition, which has been a major factor in the recent stock price movements.

Scotiabank recently adjusted its price target for Hess, lowering it from $164 to $146.6. This adjustment reflects the bank's revised outlook on the company's future performance and can impact investor sentiment and stock price.

Hess Corporation is set to release its first-quarter earnings on April 30. The anticipation of these earnings results is likely to create volatility in the stock price as investors await the financial performance for the quarter.