Hess Corp. valuation range raised to $61-$67 from $52-$58 at Wells Fargo Wells Fargo increased its valuation range on Hess after the company announced that it would pursue sales of its terminal network and exit its refining business. The firm thinks the moves will leave the company's focus clearer and its balance sheet a little cleaner. Wells maintains a Market Perform rating on the stock.
Hess calls active on renewed takeover chatter Hess October 84 and 85 calls area active on total call volume of 2,700 contracts (300 puts) on renewed takeover chatter. October call option implied volatility is at 37, November is at 32, December is at 30, January is at 27; compared to its 26-week average of 20 according to Track Data. Active call volume suggests traders taking positions for large price movement.