5 Best-Performing Energy Stocks of 2022

3. Hess Corporation (NYSE:HES)

Number of Hedge Fund Holders: 35

YTD Share Price Gain as of September 15: 74.25%

Hess Corporation (NYSE:HES) is a New York-based exploration and production company that explores, develops, and transports crude oil, natural gas liquids, and natural gas. On September 7, Hess Corporation (NYSE:HES) declared a $0.375 per share quarterly dividend, in line with previous. The dividend is distributable on September 30, to shareholders of record on September 19. Hess Corporation (NYSE:HES) stock has returned about 74.25% to shareholders year to date as of September 15. 

Barclays analyst Jeanine Wai on August 31 maintained an Overweight rating on Hess Corporation (NYSE:HES) but lowered the price target on the shares to $146 from $149. The “knee-jerk reaction” to the Alternative Minimum Tax reaching tax “safe-haven” E&P firms is understandably negative on an absolute basis, but the scenario is not as bad as feared as the companies maintain their “top-tier” free cash flow yields, the analyst wrote in a research note to investors.

According to Insider Monkey’s Q2 data, 35 hedge funds were long Hess Corporation (NYSE:HES), compared to 40 funds in the preceding quarter. Adage Capital Management is a prominent stakeholder of the company, with 2.5 million shares worth $270 million.