In other recent news, Hess Corporation reported strong fourth-quarter earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.76 compared to the anticipated $1.53. Revenue also exceeded forecasts, reaching $3.23 billion against the expected $2.96 billion. Despite these positive results, Hess provided a cautious production outlook for the first quarter of 2025, estimating production between 465,000 and 475,000 barrels of oil equivalent per day due to planned maintenance and weather impacts. Raymond James maintained a Market Perform rating on Hess, noting the company's robust operational performance but adjusting future production estimates. Meanwhile, CFRA raised its price target for Hess shares to $154, maintaining a Hold rating, citing uncertainties surrounding Hess's merger with Chevron (NYSE: CVX ). The merger with Chevron is anticipated to conclude in September or October 2025, with arbitration hearings scheduled to begin in May.