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Tickers in this article: HES LINE

The company operates in two segments, exploration and production and marketing and refining. Hess has a market cap of $23.27 billion and is part of the basic materials sector and energy industry.

The company has a trailing P/E ratio of 10.49 and a forward (one-year) PE of 10.92, below the S&P 500 P/E ratio of 17.7. Shares are up over 28% year to date as of the close of trading on Thursday.

Perhaps if we're really fortunate we can snag some shares of HES at $66 or lower during a market correction. That's why corrections shouldn't be feared.

If you know what you want to buy and the price you want to buy it at, it's the corrections that will make your wishes come true. Just be careful what you wish for!

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Make smarter trading decisions and provide investment ideas that could help make you richer. Bryan Ashenberg does the dirty work so you don't have to!