Investors Cheer as Elliott Proposes Several Nominees for Hess (HES) Board
Get Alerts HES Hot Sheet
Price: $150.80 +0.36%
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 1.1%
EPS Growth %: +27.7%
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 1.1%
EPS Growth %: +27.7%
Join SI Premium – FREE
Hess (NYSE: HES) is on the move higher once again as Elliott Management Corp proposed several nominees to Hess' board.
Nominees are executives from different energy companies like BP plc (NYSE: BP) and Anadarko Petroleum (NYSE: APC).
Elliott, which holds about 4 percent of Hess stock, announced plans for another $800 million investment in the company on Monday. At that time, Elliott also indicated it would be making nominations for Hess' board.
The firm's letter highlights how a stronger management structure is needed at the exploration and production company.
Investors appear to agree; shares of Hess are up about 3 percent early.
Nominees are executives from different energy companies like BP plc (NYSE: BP) and Anadarko Petroleum (NYSE: APC).
Elliott, which holds about 4 percent of Hess stock, announced plans for another $800 million investment in the company on Monday. At that time, Elliott also indicated it would be making nominations for Hess' board.
The firm's letter highlights how a stronger management structure is needed at the exploration and production company.
Investors appear to agree; shares of Hess are up about 3 percent early.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Equifax (EFX) shares tumble on weak Q1 revenue, guidance miss
- Tesla (TSLA) senior VP Drew Baglino to leave the company
- AdaptHealth Corp. (AHCO) Appoints Suzanne Foster as Chief Executive Officer
Create E-mail Alert Related Categories
Hedge Funds, Insiders' Blog, Management ChangesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!