With so many news items clamoring for investors' attention, investors may not have noticed that the U.S. Federal Trade Commission (FTC) approved the merger between Chevron Corporation (NYSE: CVX) and Hess Corp. (NYSE: HES). The approval came with the single stipulation that former Hess chief executive officer (CEO) would not join Chevron's board of directors.
The approval was widely expected but has been an additional headwind for Chevron shareholders. Since the announcement, the stock is up nearly 4% and is now trading positive in 2024. That's still a far cry from rival Exxon Mobil Corp. (NYSE: XOM) which is up 21.9% for the year and is near its 52-week high, which would also be its all-time high.
That may make CVX stock look quite attractive to value-hunting investors prior to the company's earnings report on November 1, 2024. Here are some things for investors to consider.
Chevron-Hess Merger Moves Forward, But Delays Persist
The FTC approval is a key step in finalizing the merger between the two oil giants, which was approved by Hess shareholders in May. But one hurdle remains. Chevron and Exxon Mobil are in arbitration regarding pre-emptive rights with Hess' Stabroek Block assets in Guyana.
Chevron is still confident ...
