This is reason for Hess action today: Hess sells Russian assets to Lukoil. Investor's Business Daily is reporting:
Hess shares rose more than 3% in the stock market today a new intraday high. Hess shares gapped up 9% in late January after the company reported strong earnings and jumped up again in mid-March after Elliott Management, headed by activist investor Paul Singer, raised its stake in Hess to 4.39%.
Hess shares have risen 37% this year as it exits the volatile refining business to focus on more profitable exploration and production.For investors only, Part I of a two-part series on midstream opportunities, at SeekingAlpha.