Chevron Corp's (NYSE:CVX) win in the arbitration ruling against Exxon Mobil Corp (NYSE:XOM) has cleared the way for the acquisition of Hess Corp (NYSE:HES).
"While this outcome was somewhat anticipated by the market, it nevertheless lifted a key overhang on the stock, which had clouded the long-term outlook given the unique cash flow growth potential from HES's 30% stake in the world class Guyana resource base," JPMorgan analyst Arun Jayaram said in a note.
