This year hasn't played out the way Hess (NYSE: HES) expected. The company initially thought it would be a banner year because its partner, ExxonMobil (NYSE: XOM), finished the first phase of their offshore Guyana development last December. However, instead of cashing in on that investment, Hess' stock tumbled about 25% because of the COVID-19 fueled crash in crude oil prices.
That sell-off might have value-hunting investors wondering if Hess' stock is now a buy given the upside it has to higher oil prices. Here's a look at the bull case for buying the stock as well as what could go wrong.
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Source Fool.com