Hess Corporation


HES

Price

91.78


Change

1.17


High

91.78


Low

91.78


Avg Volume

2,040,343


PE Ratio

143.32


52 Week High

93.37


52 Week Low

52.74



Profile

Hess Corporation is an American global independent energy company engaged in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968 led by Leon Hess. In 1995, his son John B Hess succeeded him as chairman and CEO. Hess, headquartered in New York City, placed #394 in the 2016 list of Fortune 500 corporations. In the 2020 Forbes Global 2000, Hess was ranked as the 1253rd -largest public company in the world. In 2014, Hess completed a multi-year transformation to an exploration and production company by exiting all downstream operations, generating approximately $13 billion from assets sales beginning in 2013. Hess sold its gas station network to Marathon Petroleum ; sold its wholesale and retail oil, natural gas and electricity marketing business to Direct Energy; closed its refineries in Port Reading NJ and St. Croix USVI ; sold its bulk storage and terminalling business mostly to Buckeye Partners; and sold its 50% interests in two New Jersey power plants to their respective JV partners . Hess also sold its 50% interest in its JV commodities trading arm HETCO to Oaktree Capital. HETCO is now known as Hartree Partners. The company has exploration and production operations on-shore: United States and Libya and off-shore: United States , Canada, South America , Denmark and Southeast Asia .


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