Talk about close calls. The shares of integrated oil/natural gas giant Hess Corp (HES), came very close to being stopped out at $47, after totally misbehaving since early spring/summer, during a plunge from $66.

However, after testing $48 four times, the shares found support, and HES has since zoomed higher, taking out $70 resistance, including a gap-up at $69.

Given, the close call, now may be a good time to consider taking some profits off the table with Hess. Those investors who can tolerate the risk can hold on to their full position, and go for a bigger gain: Hess should trade in the $80-85 range in 2011.

So far, institutional investors (IIs) have not noticed that Hess Corp.'s (NYSE: HES) upstream operations (exploration and production) should benefit from high oil prices in the $80 per barrel range. But the argument here is that eventually they will, preferably starting in early 2010, which is why I'm reiterating my Buy rating for the company, first recommended on April 22, 2009 at a price of $50.41.

Right now, IIs are fixated on the lower margins of downstream operations, which Hess and other refiners are coping with, as a result of recession-induced sluggish U.S. gasoline sales. The First Call FY2009/FY2010 EPS estimates for HES are $1.63 to $3.66.

It's a difficult call, but I'm Reiterating my Buy rating for Hess Corp. (NYSE: HES), first recommended on April 22, 2009 at a price of $50.41.

Hess' shares have underperformed over the past half-year, but I'm sticking with the play, for now, pending results over the next two quarters.

VISICU, Inc. (NASDAQ: EICU): Philips Electronics is buying the company. The stock moved up to $11.76 from a 52-week low of $6.57.

Canadian Solar, Inc. (NASDAQ: CSIQ): Thanks to a big rally in renewable energy stocks, shares are up to $27.15 from a 52-week low of $6.50.

EMCORE Corporation (NASDAQ: EMKR): This company is buying a piece of Intel Coporation (NASDAQ: INTC)'s telecom assets. It traded up to $14.11 from 52-week low of $3.84.

Hess Corp. (NYSE: HES): The market is still bullish on oil prices and Hess moved to $90.57 from 52-week low of $45.96.

Douglas A. McIntyre is an editor at 247wallst.com.

Nextest Systems Corporation (NASDAQ: NEXT): Buy-out by Teradyne, Inc. (NYSE: TER) brings peaks at $19.64, up from 52-week low of $10.49.

OptionsXpress Holdings, Inc. (NASDAQ: OXPS): Broker says it had a big increase in November volume. Shares trade up to $32.50 against 52-week low of $20.78.

EMCORE Corporation (NASDAQ: EMKR): Lands deal to provide parts for solar-power systems in Canada. Up to $11.67 from 52-week low of $3.84.

Hess Corp. (NYSE: HES): Price of crude jumps 5% to multi-week high. Shares move up to $82.48 from 52-week low of $45.96.

Celanese Corporation (NYSE: CE): Chemical company raises full-year outlook. Trades up to $43.72 from 52-week low of $22.56.

Douglas A. McIntyre is an editor at 247wallst.com.