NYSE:HESMOil and Gas
Is Raymond James' Downgrade and Chevron-tied Board Shift Altering The Investment Case For Hess Midstream (HESM)?
Recently, Raymond James cut its rating on Hess Midstream from Outperform to Market Perform, citing limited near-term growth prospects, while the company also reshaped its board after director Andrew B. Walz resigned to become an executive officer at Chevron.
This combination of a cooler analyst view and governance changes tied to Chevron’s influence raises fresh questions about Hess Midstream’s medium-term growth path and independence.
Next, we’ll examine how Raymond James’ downgrade,...