Goldman Sachs’ Best Hedge Fund Stock Picks: Top 20 Stocks

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9. Hess Corporation (NYSE:HES)

Number of Hedge Fund Investors in Q2 2024: 73

GS’ Number Of Funds: 22

Hess Corporation (NYSE:HES) is an American oil and gas exploration and production company. The firm is currently being acquired by oil giant Chevron for a massive $53 billion price tag. As a result, most of Hess Corporation (NYSE:HES)’s hypothesis is built around the deal’s progress. Its shares could struggle if Chevron sees headwinds on the regulatory front as well as key Hess Corporation (NYSE:HES) oil producing regions in Guyana which have been a source of friction with Chevron’s rival Exxon. Additionally, any improvement in Hess Corporation (NYSE:HES)’s production output as well as efficiencies could further sweeten the deal for Chevron and provide catalysts to the stock price. Right now, Hess Corporation (NYSE:HES)’s shareholders are slated to receive 1.025 shares of Chevron for each of their shares. Investors will be on the watch out for the firm’s cost control along with any delays to the deal as potential headwinds to the shares.

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