Hess Corporation (HES) is a stock that worth checking out. The global integrated energy company closed at $81.12 on Thursday, a drop of 2.27% from its opening price.
The company has been reshaping their portfolio to help shed non-core assets. Hess sold $1.3 billion worth of assets in the start of December as they move away from refining and focus on exploration and production. This will help the company increase profitability and return cash to investors. The strategy appears to be working, as the company has increased earnings per share 23.1% in the past year.
Hess appears to be undervalued, with a PE ratio at 7.9 as of today. This is below the industry average PE ratio of 10.3. In addition Hess has only finished the year with a PE ratio below 7.9 only once in the past ten years. This could be an opportunity to buy this stock for a great bargain price.