The Rising Influence of Rising Affluence

[DewDiligence]

HES back over $50 for the first time in some time. This can be attributed, IMO, to the change in strategy outlined on the 2Q12 CC in which John Hess stated that HES will de-emphasize wildcat drilling and will focus more strongly on increasing production of existing assets, especially in the Bakken.

The large insider buying by Hess and others (#msg-75235512, #msg-75705739) lends credibility to the strategic shift.

The stock is still dirt-cheap, IMO.