SCHEDULE 13G/A: BlackRock Amends Passive Stake in Hess Corp, Disclosing 6.7% Beneficial Ownership

BlackRock, Inc. has filed an Amendment No. 11 to its Schedule 13G, reporting a 6.7% beneficial ownership stake in Hess Corp's common stock as of March 31, 2025.

Summary

• BlackRock, Inc. reported beneficial ownership of 20,752,463 shares of Hess Corp common stock.
• This aggregate amount represents 6.7% of Hess Corp's outstanding common stock.
• BlackRock holds sole voting power over 19,432,835 shares.
• BlackRock holds sole dispositive power over 20,752,463 shares.
• No shared voting or dispositive power was reported.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Hess Corp.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing a passive ownership stake, providing factual information without expressing positive or negative sentiment about the issuer's performance.

Positives

• The disclosure of a significant 6.7% passive stake by a major institutional investor like BlackRock can be viewed as a vote of confidence in Hess Corp's long-term prospects and stability.

Negatives

• This filing, being a passive ownership disclosure, does not inherently contain negative information regarding Hess Corp's operational or financial performance.

Risks

• The filing explicitly states that the securities are not held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating the risk of an activist investor seeking control.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

NA

Stakeholder Impact

• Shareholders: The continued significant passive stake by BlackRock may provide a sense of stability and institutional confidence in Hess Corp.

Key Dates

Keywords

BlackRock, Hess Corp, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing, Equity Stake