NYSE:HESMOil and Gas
The Bull Case For Hess Midstream (HESM) Could Change Following Debt-Funded Buybacks And Unit Cancellations
Hess Midstream LP recently authorized a share repurchase plan, entering into an agreement with JPMorgan Chase Bank to buy back up to US$42,000,000 of Class A shares, initially receiving 744,492 shares, funded through its existing revolving credit facility, with all repurchased shares to be cancelled and final settlement expected in March 2026.
These buybacks, alongside the earlier US$18,000,000 Class B unit repurchase from a Chevron affiliate, mark a coordinated effort to reduce outstanding...