HES Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: Strong production in Guyana, 42% more bullish risk versus bearish, and 72% more call option volume indicate upside, supported by mean-reversion history.




Bearish Case: High P/B ratio, geopolitical risks, and market volatility, coupled with flat term structure, suggest potential downside despite bullish sentiment.




Potential Outcomes:
  • Oil stability boosts HES: 55%
  • Geopolitical tensions decrease value: 25%
  • Regulatory changes impact HES: 20%




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June 21, 2025


Hess Forecast

HES        Hess











Correlated Assets

Assets that tend to move strongly with HES



CVX Forecast + Options Trading Strategies   CVX  Chevron (0.94)


INTC Forecast + Options Trading Strategies   INTC  Intel (0.64)


USO Forecast + Options Trading Strategies   USO  United States Commodity Funds (0.63)


HTGC Forecast + Options Trading Strategies   HTGC  Hercules (0.59)


TDOC Forecast + Options Trading Strategies   TDOC  Teladoc Health (0.55)



Uncorrelated Assets

Assets with little price relationship to HES



DHI Forecast + Options Trading Strategies   DHI  D.R. Horton (0.01)


ZETA Forecast + Options Trading Strategies   ZETA  Zeta Global Holdings Corp (0.01)


CNP Forecast + Options Trading Strategies   CNP  Centerpoint Energy (-0.01)


BYRN Forecast + Options Trading Strategies   BYRN  Byrna (-0.01)


FEZ Forecast + Options Trading Strategies   FEZ  SPDR EURO Stoxx 50 (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against HES



EXAS Forecast + Options Trading Strategies   EXAS  Exact Sciences (-0.39)


NGG Forecast + Options Trading Strategies   NGG  National Grid (-0.47)


FE Forecast + Options Trading Strategies   FE  Firstenergy (-0.49)


VIXY Forecast + Options Trading Strategies   VIXY  ProShares VIX Short-Term Futures (-0.57)


SCO Forecast + Options Trading Strategies   SCO  ProShares UltraShort Bloomberg Crude Oil (-0.64)









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