This month's big merger deals announced by Chevron and ExxonMobil seem to be just the beginning of a consolidation wave in the oil patch.
Shares of Chevron Corp. NYSE: CVX gapped down hard on October 23 after saying it would buy fellow S&P 500 component Hess Corp. NYSE: HES in an all-stock deal valued at $53 billion.
ConocoPhilips could be the next U.S. energy company looking to make a big purchase, according to KeyBanc analysts. Here are the potential targets.
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U.S. equities came back from early losses to end Monday mixed after a jump in bond yields sent stocks sinking earlier in the session.
Just weeks after Exxon Mobil (XOM) announced it was buying Pioneer Natural Resources (PXD), Chevron (CVX) has announced it is buying Hess (HES) in a $53 billion all-stock deal. Enverus Intelligence Di

Hess Cancels Earnings Release Conference Call

04:20pm, Monday, 23'rd Oct 2023
NEW YORK--(BUSINESS WIRE)--Hess Cancels Earnings Release Conference Call.
Neal Dingmann, managing director of energy research at Truist, joins 'Power Lunch' to discuss oil consolidation, geo-political risk surrounding oil prices, and more.
Chevron makes an offer for Hess, indicating strong interest in the profitable Guyana project. Chevron's entrance into the Guyana partnership suggests a higher value than previously seen. The recent ac
Chevron Corp. CEO Mike Wirth and Hess Corp. CEO John Hess discuss why the companies decided to combine in a $53 billion deal. Chevron will pay $171 per share for Hess, a premium of about 10% to the 20
Off mid-October highs, all major indices are down roughly -0.4%: the Dow -160 points, the S&P 500 -17 and the Nasdaq -57.

Inversion of Yield Curve Tight at 14 bps

12:01pm, Monday, 23'rd Oct 2023
Inversion of Yield Curve Tight at 14 bps.
Paul Sankey, lead analyst at Sankey Research, joins 'Squawk on the Street' to discuss his thoughts on the recent deal between Chevron and Hess, why he didn't think Chevron could acquire Hess, and more
John Hess exits company founded by his father.

Chevron to buy Hess Corp for $53 billion

10:51am, Monday, 23'rd Oct 2023
Hess Corp (NYSE: HES) opened in the green today after Chevron Corporation (NYSE: CVX) said it will buy the energy company for $53 billion. Chevron values Hess Corp at $171 a share The all-stock agreem
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