Hess Midstream: The Issue Remains With Chevron

Hess Midstream stock remains stagnant due to uncertainty around Chevron’s Bakken acreage strategy. Chevron is evaluating the profitability of the Bakken assets; until a clear, positive outcome emerges, HESM’s long-term value remains uncertain. Second quarter results showed slightly lower EBITDA and net income, but free cash flow improved due to reduced capital expenditures. I remain cautious on HESM, given the historical lack of upstream profitability and the risk that Chevron may not invest further in the region. The dividend increased.

Hess Midstream LP ( HESM ) announced another dividend increase along with second-quarter results that generally had the market applauding the whole scenario. The quarterly net income comparison was actually negative. But really, the overall financial results of