Options Spotlight: Hess Corporation
According to Hoover’s, Hess Corporation is an integrated oil and gas company that explores and produces in Denmark, Gabon, Norway, the U.K., and the U.S.; it also operates in Indonesia, Thailand, and other countries. In 2007 Hess reported proved reserves total more than 1.3 billion barrels of oil equivalent. It operates a 50%-owned refinery (HOVENSA) in the U.S. Virgin Islands and a smaller 1 in New Jersey. Furthermore, it markets gasoline through more than 1,370 HESS gas stations, chiefly in the eastern U.S.
In the Options Spotlight, I shine a light on what’s happening in the options world. In the case of Hess Corporation, call activity has been brisk on the shares as investors attempt to call a bottom to the security’s downtrend. Has this stock’s decline finally reached an end?
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