Activist shareholders storm companies from inside out

摘要

Shareholder activism is back and zeroing in on upstream oil and gas producers, says 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 'cor- porate raiding,'" Calio says in a February 3 report. Hess Corp. was rumored to be the target of a corporate raider in 1985, Calio says. Once again, the company "is subject to shareholder activists today."