Hess Midstream Stock Plunges, but the Chevron Deal Has a Silver Lining
Hess Midstream's deal with Chevron means lower earnings but also longer contracts, fewer shares outstanding, and expansion into a second region.
Stock Taper 
HESM
$34.00
▲ UP 2.94% (0.97)
KEY STATISTICS
Market Cap$7.02 B
52w High$41.44
52w Low$31.63
Dividend Yield7.63%
FrequencyQuarterly
P/E11.72
Volume5.28M
Shares Out.206.63M
COMPANY
LEADERSHIP
CHIEF EXECUTIVE
Jonathan C. Stein
ABOUT
SECTOR
Energy
WENT PUBLIC
April 5, 2017
METHOD OF GOING PUBLIC
IPO
FULL TIME EMPLOYEES
195
PRICE TARGET
Target High$39.00
Target Low$32.00
Target Median$35.50
Target Consensus$35.50
UPCOMING EARNINGS
DateNov 2, 2026
DayMonday
Rev. Est.$411.28M
NOV
2
MON
ETFS HOLDING THIS STOCK
ETFS HOLDING
93
LISTED HERE
10
RANKED BY POSITION SIZE
INSTITUTIONAL OWNERSHIP
SHARES OWNED
36.08%
HOLDERS
404
TOP 8 OF 404 · RANKED BY POSITION SIZE
PRICE
$34.00 ▲ UP 2.94% (+$0.97)About Hess Midstream LP
https://www.hessmidstream.com ↗Hess Midstream LP, founded in 2014 and based in Houston, Texas, owns and operates midstream assets across gathering, processing, storage, and export segments, including pipelines, processing plants, and terminal facilities.
INDUSTRY
Oil & Gas Midstream
A SERVICE HESS MIDSTREAM LP IS KNOWN FOR
Integrated Midstream Services
Hess Midstream LP offers fee-based midstream services—gathering, processing, storage, and export—in the Bakken and Three Forks plays, ensuring stable cash flows through long-term contracts.
Hess Midstream LP in 2025
SENTIMENT: + POSITIVE
ACQUISITION · JULY 2025
Hess Midstream Stock Jumps as Chevron Becomes Indirect Parent Following Completion of Hess Corp Merger
The merger of Hess Corporation and Chevron Corporation, completed on July 18, 2025, made Chevron the indirect owner of approximately 37.8% of Hess Midstream. This change in the ownership structure of its parent company was a pivotal moment, leading to significant investor interest and a notable single-day stock price increase.
LEADERSHIP STRATEGY · JULY 2025 · COMPLETED
Hess Midstream Overhauls Leadership and Board Following Chevron Merger Completion
Following the completion of the merger between Hess Corporation and Chevron Corporation in July 2025, Hess Midstream underwent a significant leadership and board transition. This change positions Chevron, now the beneficial owner of Hess's interest, as the key strategic influence, appointing a new Chairman and several board members, and naming a new CEO to guide the company's future.
Latest News
EARLIER COVERAGE
Hess Midstream LP (HESM) Discusses Definitive Agreement for DJ Basin Asset Acquisition and Business Strategy Transcript
Hess Midstream LP (HESM) Discusses Definitive Agreement for DJ Basin Asset Acquisition and Business Strategy Transcript
Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit. Here's What It Means for CVX Stock.
Chevron has agreed to a new midstream services deal with Hess Midstream. It's exchanging its ownership in Hess Midstream and its DJ Basin midstream assets for future cost savings.
Hess Midstream Partners Goes Public-Only, Buys Chevron's DJ Basin Assets
Hess Midstream Partners NYSE: HESM said it has entered a definitive agreement with Chevron to become an independent, publicly owned multi-basin midstream company, expanding beyond its Bakken operations through the acquisition of Chevron's DJ Basin midstream assets.
Hess Midstream shares fall 16% after Chevron agrees to transfer stake and assets
Hess Midstream (NYSE:HESM) shares fell over 16% to $32.25 on Wednesday morning after Chevron agreed to transfer its ownership interests in the midstream company and DJ Basin crude oil assets in exchange for revised Bakken terms, with the company forecasting 2027 Adjusted EBITDA of $850 million to $950 million. The agreements will extend Chevron's Bakken midstream contracts and are expected to reduce its unit midstream costs by about 50%, improving its cost structure and return on capital employed.
Chevron to divest ownership interests in Hess Midstream and DJ Basin crude midstream assets
Chevron said on Tuesday that several of its subsidiaries signed agreements with Hess Midstream to restructure their Bakken midstream contracts and create new midstream contracts in the DJ Basin.
Hess Midstream LP Announces Transformative Transaction Leading to New Independent Multi-basin Midstream Company
HOUSTON--(BUSINESS WIRE)--HESS MIDSTREAM LP ANNOUNCES TRANSFORMATIVE TRANSACTION LEADING TO NEW INDEPENDENT MULTI-BASIN MIDSTREAM COMPANY.
Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today that several of its subsidiaries have entered into a series of definitive agreements with Hess Midstream LP (NYSE: HESM) to restructure the terms of its Bakken midstream contracts and establish new DJ Basin midstream contracts. The revised agreements extend the Bakken contracts and are expected to reduce Chevron's Bakken unit midstream costs by approximately 50%, enhancing future earnings and return on capital employed. I.
Contrasting San Juan Basin Royalty Trust (NYSE:SJT) & Hess Midstream Partners (NYSE:HESM)
Hess Midstream Partners (NYSE: HESM - Get Free Report) and San Juan Basin Royalty Trust (NYSE: SJT - Get Free Report) are both energy companies, but which is the better investment? We will contrast the two companies based on the strength of their profitability, valuation, institutional ownership, analyst recommendations, earnings, risk and dividends. Profitability This table compares
Hess Midstream Partners LP (NYSE:HESM) Stock Now Rated “Reduce” by Sell-Side Analysts
Shares of Hess Midstream Partners LP (NYSE: HESM - Get Free Report) have earned a consensus rating of "Reduce" from the six analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to
RATINGS SNAPSHOT
Overall rating: B+
Discounted Cash Flow5
Return On Equity5
Return On Assets5
Debt To Equity1
Price To Earnings2
Price To Book1
Overall Score3
MOST RECENT ANALYST GRADES
GRADE SUMMARY
UNDERWEIGHT 2
SELL 1
EQUAL WEIGHT 1
MARKET PERFORM 1
5 GRADES IN THE LAST 12 MONTHS
SECTORS PEERS
| PEER | PRICE | |
|---|---|---|
 WMB | $72.39 | COMPARE |
 EPD | $36.93 | COMPARE |
 TRGP | $289.53 | COMPARE |
 MPLX | $57.35 | COMPARE |
 WES | $46.11 | COMPARE |
 PR | $22.40 | COMPARE |
 APA | $44.22 | COMPARE |
 DTM | $123.72 | COMPARE |
TRADES BY CONGRESS
HOUSE TRADES
Virginia Ann Foxx
Sale (Full)
2019-02-20
Virginia Foxx
Purchase
2019-01-28
INSIDER TRADES
★
DIRECTOR
NIEMIEC DAVID W
Sale · 1.6K shares
2026-03-08
★
DIRECTOR
NIEMIEC DAVID W
Purchase · 1.7K shares
2026-03-08
★
DIRECTOR
NIEMIEC DAVID W
Purchase · 1.6K shares
2026-03-08
★
OFFICER: PRESIDENT AND COO
Bast Michael Scott
Sale · 1.3K shares
2026-03-08