Hess Midstream faces stock decline following Chevron divestment

Hess Midstream has experienced a stock price decline of approximately 20% over the past month. This downturn follows an announcement from Chevron that it intends to unload its stake in the midstream company.

Market reactions were driven by the company's agreement to accept lower fees from Chevron in the Bakken Shale region between 2027 and 2033. This agreement has led to a reduction in 2026 EBITDA guidance and a cautious outlook for 2027. Despite the recent slump, some analysts note that integrated oil companies frequently divest midstream assets as part of broader restructuring efforts.