While Hess is certainly doing that, other companies not in the crosshairs of massive hedge funders are still undervalued. Three that I think are the best are Noble Energy (NBL - Get Report), Anadarko (APC - Get Report) and EOG Resources (EOG - Get Report). Whether their assets are here in the United States or overseas -- onshore, offshore or in the Arctic -- each of these will generate higher crude oil volume growth in 2013 for cheaper margins than the street is expecting. And as Hess is showing, that is all that matters to make share prices move rapidly higher.
At the time of publication, the author was long NBL.