Investopedia: Hess Has Good Assets, But What About Management?

Everybody loves a bargain, but it's always important to ask why a potential bargain is as cheap as it is. In the case of Hess (NYSE:HES), a diverse set of high-quality assets and a hefty weighting toward U.S. liquids and overseas natural gas would normally seem to be a very good thing. Management has seemed disturbingly lackadaisical about economic returns and capital allocation, though, and investors need to have a strong cause for believing that management can deliver growth in production and shareholder value before entering a position here.

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