Overview

• UBS reaffirmed its Buy rating with a $197 price target after outlining Hess-related accounting effects that will weigh on Q3 GAAP results while modestly lifting adjusted earnings.
• Chevron said the Hess deal closed in July after a court fight with ExxonMobil, raising Q3 capital spending by $1.0–$1.25 billion and adding 450,000–500,000 barrels of oil equivalent per day.
• The company plans to provide detailed updates on upstream growth, returns and pro-forma spending at its November 12 Analyst Day.
• Seeking Alpha contributors reiterated a strong buy view, citing the Hess acquisition and Guyana development as key growth engines that help offset Permian production plateau concerns.
• The opinion pieces say rising natural-gas demand, potentially aided by a colder winter and expanding data centers, could support prices and bolster earnings, while highlighting valuation, dividend strength, bullish technicals and disclosed long positions.