Top 10 Stocks to Buy According to Adage Capital Management

5. Hess Corporation (NYSE:HES)

Number of Hedge Fund Holders as of Q4: 92

Adage Capital Management’s Equity Stake: $1.52 Billion 

Hess Corporation (NYSE:HES), an American independent energy company founded in 1933, specializes in the exploration and production of crude oil and natural gas. The company operates production facilities across key regions, including the United States, Guyana, and Malaysia, while also focusing on offshore exploration in areas like the Gulf of Mexico and Suriname.

Hess Corporation (NYSE:HES) delivered impressive Q4 2024 earnings, reporting $1.76 per share, surpassing the consensus estimate of $1.51 and improving from $1.63 per share in the previous year. The company’s net income surged to $542 million, compared to $413 million in Q4 2023, marking its fourth consecutive quarter outperforming earnings expectations. This consistent earnings beat highlights Hess’s strong financial performance and operational efficiency in the oil and gas sector, reinforcing its ability to navigate market fluctuations effectively.

In addition to earnings growth, Hess Corporation (NYSE:HES) reported revenue of $3.23 billion for Q4 2024, exceeding analyst expectations by 6.38% and growing from $3.04 billion year-over-year. The company’s stock has gained approximately 8.87% since the beginning of the year, significantly outperforming the broader market’s 1.68% decline. With a strong track record of revenue expansion and effective capital management, Hess is well-positioned for continued momentum in the near term, though future performance will depend on market conditions and management’s strategic outlook.

On March 5, 2025, Hess Corporation’s Board of Directors declared a regular quarterly dividend of $0.50 per share, payable on March 31, 2025, to shareholders of record as of March 17, 2025. With a market capitalization of $45.7 billion, Hess Corporation (NYSE:HES) remains a key player in oil exploration and production across the U.S. and Gulf of Mexico. As of March 12, 2025, analysts maintain the consensus rating of “Moderate Buy” on HES, with a mean price target of $167.47, representing a potential 15.8% upside from current levels.