Hess' moves during the market turbulence in the second quarter position it to capture improving prices later this year.
News & Analysis: Hess
Dual headwinds weighed on the oil company last month.
International tensions with Iran left investors worried about the global oil supply.
Several factors combined to drive up the oil producer’s shares last month.
Hess stock saw big sell-offs in December and ended 2018 down 14.7% on the year, but shares have bounced back in 2019.
It was the best of times and then the worst of times.
The oil stock gave up some of its recent gains despite good news last month.
The entire industry had a good month, but these beaten-down drillers topped the list.
The independent oil producer disappointed investors last month despite reporting lots of good news.
The oil company got some good news from an unlikely source.
The independent oil company’s third-quarter earnings report left a lot to be desired.