Near a 12-Year Low, Is Hess a Buy?

We may have hit the turning point for the oil industry. Maybe. Some oil and gas stocks seem to be on the upswing after years of declines. Beleaguered giant BP (NYSE: BP), for example, is up 7.9% so far this year. 

Sadly, however, that hasn't translated into outperformance across the sector. Some oil and gas exploration and production stocks like Hess (NYSE: HES) and Apache Corporation (NYSE: APA) are still trading close to multiyear lows. Hess, in particular, is trading near levels the stock hasn't seen since 2005. Let's look a little closer to see if the stock is a buy at these prices.

Investors who have bought Hess over the last dozen years haven't had much luck. Could that be about to change? Image source: Getty Images.

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Source: Fool.com