11 Best American Energy Stocks to Buy Now

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2. Hess Corporation (NYSE:HES)

Number of Hedge Fund Holders: 92

Hess Corporation (NYSE:HES) is a leading independent energy company that focuses on exploring oil, gas, and energy solutions. The company has a strong position in the Bakken in North Dakota and is one of the largest producers in the deepwater Gulf of Mexico. It also operates offshore Guyana and is a major natural gas producer and supplier to Peninsular Malaysia and Thailand. Hess Corporation (NYSE:HES) is one of the best American stocks to invest in.

On February 10, Raymond James reiterated a “Market Perform” rating on Hess Corporation (NYSE:HES) following the company’s Q4 2024 earnings, which exceeded expectations. Hess Corporation (NYSE:HES) reported earnings per share (EPS) of $1.76 to surpass the street’s projection of $1.53, and cash flow per share (CFPS) of $4.93 to beat the $4.29 forecast by about 15%. This success was driven by higher-than-expected total production and oil and natural gas realizations as Hess Corporation (NYSE:HES) reported a total production output of 495 thousand barrels of oil equivalent per day (mboe/d) for Q4 2024, surpassing the projected 481 mboe/d. Interestingly, the company’s operating costs were also 7% less than Raymond James’s projections. Despite this performance, Raymond James slightly reduced its production outlook for the first quarter of 2025 to 469 mboe/d because of winter weather impacts in the Bakken region and maintenance at the Payara development in Guyana. Additionally, keeping in mind Hess Corporation’s (NYSE:HES) ongoing expansion efforts in Guyana’s Stabroek Block, Raymond James adjusted its 2025 capital expenditure projection to align with the guidance midpoint of $4.5 billion, but slightly below street estimates of $4.6 billion.

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