Hess Corporation (HES)

[DewDiligence]

CEO John Hess bought $4M worth of HES on 2/2/15 @$69.52:

http://www.sec.gov/Archives/edgar/data/4447/000120919115008544/xslF345X03/doc4.xml

[DewDiligence]

HES projects 2015 production of 350-360K* boe/d: #msg-110329893.

[DewDiligence]

HES reduces planned 2015 cap-ex by 16%: #msg-110269783.

[TREND1]

HES D TREND = DOWN IMHO.

[DewDiligence]

HES favored by Brian Rogers of T Rowe Price: #msg-110232280.

[DewDiligence]

HES declares regular quarterly dividend of $0.25/sh:

http://finance.yahoo.com/news/hess-announces-regular-quarterly-dividend-213000795.html

With the recent swoon in oil prices, the dividend will probably remain flat for the next few quarters.

[DewDiligence]

HES reports first oil production from Tubular Bells: #msg-108247156.

[DewDiligence]

HES raised the guidance for 2020 Bakken production from 150K boe/d to 175K boe/d.

[DewDiligence]

Best chart from today’s Investor Day presentation: #msg-108029306.

[DewDiligence]

HES Investor Day PR:

http://www.sec.gov/Archives/edgar/data/4447/000089882214000417/pressrelease.htm

[DewDiligence]

Slide deck from HES’ Investor Day today (100 pages):

http://phx.corporate-ir.net/External.File?t=1&item=VHlwZT0yfFBhcmVudElEPTUxNzAxMjN8Q2hpbGRJRD01NjA2OTE

[DewDiligence]

HES +2% on strong 3Q14 results: #msg-107647560.

[DewDiligence]

HES files S-1 for spinoff of Bakken midstream MLP, to be called Hess Midstream Partners with the ticker symbol ‘HESM’:

http://finance.yahoo.com/news/hess-midstream-partners-lp-files-120400459.html

…Hess Midstream Partners’ initial assets will be contributed by Hess and are expected to include a 30% interest in Hess’ natural gas processing plant located in Tioga, North Dakota; a 50% interest in Hess’ rail loading terminal located in Tioga, along with the associated rail cars; a 50% interest in Hess’ crude oil truck and pipeline terminal located in Williams County, North Dakota; and a 100% interest in Hess’ propane storage cavern and rail and truck transloading facility located in Mentor, Minnesota.

The spinoff is planned for 1Q15.

[DewDiligence]

HES’ $12.5B of 2013-2014 divestitures:



Source: Barclays webcast.

[DewDiligence]

HES sets 6-year high on 2Q14 results and midstream MLP spin-off/IPO; musings on the planned MLP:

#msg-104806663

[DewDiligence]

Bakken consolidation—WLL acquires KOG: #msg-104276849.

[DewDiligence]

I prefer the outright sale, rather than a spin-off, for tax reasons.

[radar72]

Well, I was kinda' hoping for a spinoff and "free" shares in a new public company BUT this will work fine. Looks like they are going to use the proceeds to do more share buybacks. We should be over $100 before end of year IMO.

[DewDiligence]

HES +2% on sale of retail business for better-than-expected price:

#msg-102338306
#msg-102341575
#msg-102341906

[radar72]

Looking good today.

[DewDiligence]

HES’ buyout vig just went up to some degree: #msg-101918549.

[DewDiligence]

HES beats 1Q14 consensus EPS; 2Q14 Bakken forecast is 80-90K boe/d:

#msg-101803563

[radar72]

Looking strong today. Still holding mine and starting to get excited about the spinoff or sale of the retail assets. Should be interesting.

[DewDiligence]

HES sells Thailand assets for $1B after taxes, continuing previously announced divestiture program:

#msg-101080252

[radar72]

Looking good so far today. Nice bouce!

[DewDiligence]

Can't wait to see what happens with the spin off.

The retail business might be sold rather than spun off, although a spin-off is more likely, IMO.

[radar72]

Bought some more here today. Can't wait to see what happens with the spin off.

[DewDiligence]

Libyan production may be back online soon: #msg-100569120.

[DewDiligence]

Few companies split their stock these days.

[radar72]

Nice close. Time for this bad boy to make a run, double then split 2:1. I'd be happy with that.

[radar72]

Just bought a nice pile of shares today. Liking the looks of this one too.

[DewDiligence]

HES almost ready to restart expanded Tioga-NG plant: #msg-98848306.

[DewDiligence]

HES adds (retiring) Federal Reserve official to BoD: #msg-98642537.

[DewDiligence]

Informative video on Big Oil poses questions for HES business model:

#msg-97715680

[DewDiligence]

HES 4Q13 CC notes: #msg-96547320.

[DewDiligence]

HES announces 2014 cap-ex budget of $5.8B, half for Bakken/Utica shales:

#msg-96330377

[DewDiligence]

HES files SEC Information Statement on possible spinoff of retail business:

#msg-95700952

[DewDiligence]

HES off 2.3% on this story about oil trains: #msg-95508265.

[DewDiligence]

HES lowers 4Q13 guidance: #msg-95026759.

[DewDiligence]

HES is considering spinning off the service-station/convenience-store business, rather than selling it, to avoid capital-gains taxes:

#msg-94660158

[DewDiligence]

HES sells Indonesian assets for $1.3B: #msg-94598496.

[DewDiligence]

Notes from HES 3Q13 CC: #msg-93797387.

[DewDiligence]

Credit Suisse raises rating on HES: #msg-93599069.

[DewDiligence]

HES continues asset divestitures with $850M sale of oil-storage terminals:

#msg-92887744

What’s not to like?

[egrohs]

Sounds good, thanks.

[DewDiligence]

The buyback could start at any time (and may already have started); however, HES said on the most recent CC that the paydown of debt would occur first.

[egrohs]

True. Just thought they mentioned what quarter the buy back would be starting in their last conference call.

[DewDiligence]

It may have started, but we don't know for sure. HES doesn't telegraph when buybacks are executed (for obvious reasons).

[egrohs]

Anyone know if that 4 million share buy back has started yet? When was it slated to start? Did they say on that last cc?

[DewDiligence]

HES breaks $80 for fist time since 2011. Dividend increase, share buybacks, insider buying, asset monetizations, and new business model are working, evidently.