Activist Shareholders Storm Companies From The Inside Out
By Darren Barbee, Hart Energy
February 4, 2013
Shareholder activism is back and zeroing in on upstream oil and gas producers, said Evan Calio, Morgan Stanley’s lead analyst for the Integrated Oil and Refining Industries.
“Upstream oil and gas producers have not witnessed this level of shareholder activism since the mid-1980s, when it was less euphemistically referred to as ‘corporate raiding,’ ” Calio said in a Feb. 3 report titled “The Beat, The Miss and The Activist.”
Calio said that Hess Corp. (NYSE: HES) was rumored to be the target of a corporate raider in 1985.
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