---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-002657"
form_type: "8-K"
ticker: "CVX"
cik: "0000093410"
company_name: "CHEVRON CORP"
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T17:55:23.877226+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Chevron to acquire Hess in $53B all-stock deal, $171/share, expected close H1 2024

## Summary
- All-stock transaction valued at $53B ($171/share); Hess holders get 1.0250 Chevron shares per share.
- Total enterprise value including debt is $60B; premium of 10.3% based on 20-day average.
- Expected to close first half 2024, subject to Hess shareholder and regulatory approvals.
- After close, Chevron intends to increase share repurchases by $2.5B to $20B/year; dividend increase of 8% to $1.63/share recommended.
- John Hess expected to join Chevron Board of Directors.

## SEC filing metadata
- accession: 0000950142-23-002657
- form_type: 8-K
- ticker: CVX
- cik: 0000093410
- company_name: CHEVRON CORP
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/93410/000095014223002657/0000950142-23-002657-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/93410/000095014223002657/eh230413256_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-002657
- JSON: https://secwatch.observer/filing/0000950142-23-002657.json
- Plain text: https://secwatch.observer/filing/0000950142-23-002657.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.