$HESM

Hess Midstream Reports Fall in Q2 Throughput Volumes for Crude Oil, Gas Gathering

Hess Midstream (HESM) Q2 throughput for oil terminaling fell 15% and by 12% for water gathering compared with the corresponding quarter last year, weighed down by lower new-well activity which resulted in lower output, the Texan company said on Monday.In Q2, throughput volumes for crude oil gathering fell to 103,000 barrels of oil per day, down from 127,000 oil b/d in the year ago period.For the quarter ended June 30, throughput volumes decreased 4% for gas processing to 433,000 million cubic feet of natural gas per day, versus 449,000 Mcf/d last year, primarily due to planned maintenance at the Tioga Gas Plant, the company said.Throughput volumes for gas gathering for the quarter fell to 445,000 Mcf/d, versus 464,000 Mcf/d last year, while throughput volumes at crude terminals fell to 117,000 oil b/d in Q2, down from 137,000 oil b/d in the year ago period, the company said in its earnings statement.In Q2, natural gas liquids loading volumes held steady year-on-year at 17,000 barrels of liquids per day.For the year ended Dec. 31, 2026, the company expects gas gathering throughput volumes of 450-460 Mcf/d and crude oil gathering volumes of 115,000-125,000 b/d.Gas processing throughput volumes were projected at 435-445 Mcf/d of natural gas for the year, while crude terminals throughput was seen at 125,000-135,000 b/d.Price: $40.37, Change: $-0.47, Percent Change: -1.15%

Sector Update: Energy Stocks Fall Pre-Bell Monday

Energy stocks were falling pre-bell Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 1.4%.The United States Oil Fund (USO) was down 6.5% and the United States Natural Gas Fund (UNG) was 0.3% higher.Front-month US West Texas Intermediate crude oil was 6.9% lower at $78.81 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 5.7% to $82.93 per barrel, and natural gas futures were up 1% at $2.77 per 1 million British Thermal Units.Chevron (CVX) said it will expand its North American base oils distribution network through new agreements with HF Sinclair Lubricants & Specialties and Renkert Oil, starting May 1, 2027. Shares of Chevron were down more than 1% premarket.BP (BP) has completed the sale of its Gelsenkirchen refinery and related businesses in Germany to Klesch Group, the company said. BP stock declined past 3% pre-bell.Hess Midstream (HESM) shares were up more than 1% after the company posted higher Q2 earnings.

Hess Midstream Q2 Earnings Rise, Revenue Falls

Hess Midstream (HESM) reported Q2 earnings Monday of $0.75 per diluted share, up from $0.74 a year earlier.Analysts polled by FactSet expected $0.67.Revenue for the quarter ended June 30 was $399 million, down from $414.2 million a year earlier.Four analysts polled by FactSet expected $396 million.Hess Midstream shares were up 1.2% in premarket activity.

Earnings Flash (HESM) Hess Midstream Posts Q2 EPS $0.75, vs. FactSet Est of $0.67

Hess Midstream Raises Quarterly Distribution to $0.7888 per Class A Share, Payable Aug. 14 to Shareholders of Record Aug. 6

Morgan Stanley Downgrades Hess Midstream to Underweight From Equal Weight, $38 Price Target

Hess Midstream LP (HESM) has an average rating of Underweight and mean price target of $36.83, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Hess Midstream Q1 Earnings Show Higher Gas Throughput

Hess Midstream (HESM) reported Monday Q1 earnings, showing throughput gas gathering volumes of 438 million cubic feet per day, up from 431 MMcf/d a year earlier.The company reported crude-gathering throughput of 110,000 barrels per day for the quarter ended March 31, up from 117,000 b/d a year earlier.The company processed 430 MMcf/d of gas in Q1 compared with 424 MMcf/d a year earlier, while crude terminal volumes declined to 119,000 b/d from 125,000 b/d.Hess Midstream expects 2026 gas gathering volumes of 450 MMcf/d to 460 MMcf/d and gas processing of 435 MMcf/d to 445 MMcf/d.The company also guides crude terminal volumes at 125,000 b/d to 135,000 b/d, while crude gathering is forecast at 115,000 b/d to 125,000 b/d.Hess Midstream expects to spend about $105 million in total capital expenditures for the full year 2026.

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index was shedding 0.4%.In sector news, oil prices jumped as fighting in the Iran war flared up again. The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X earlier in the day.Front-month West Texas Intermediate crude oil climbed 3.2% to $105.22 a barrel, and the global benchmark Brent crude contract jumped 5.5% to $114.10 a barrel. Henry Hub natural gas futures rose 2.5% to $2.85 per 1 million BTU.In corporate news, Clean Energy Fuels (CLNE) shares gained 3.7% after the firm said Monday it is opening six new renewable natural gas stations along major US freight transportation routes to expand its station network.Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS said in a note. UBS kept its buy rating and increased its price target to $220 from $218. Chevron shares were rising 0.90%.Hess Midstream (HESM) shares climbed 3.8% after it posted higher Q1 earnings and revenue.ConocoPhillips (COP) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips shares rose 1.4%.

Sector Update: Energy Stocks Higher Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index increasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index was shedding 0.5%.In sector news, oil prices rose as investors weighed military action in the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. Military tensions were fanning up in Hormuz on Monday, as several ships were struck amid Iranian threats and the US sent in destroyers and fought off further attacks, The Wall Street Journal reported. The skirmishes followed President Donald Trump's initiative to get ships bottled up in the Persian Gulf out through the crucial waterway, the Journal said.Front-month West Texas Intermediate crude oil was rising 3.2% to $105.19 a barrel, and the global benchmark Brent crude contract was advancing 5.1% to $113.69 a barrel. Henry Hub natural gas futures rose 2.9% to $2.86 per 1 million BTU.In corporate news, Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS analysts said in a note. UBS kept a buy rating on the stock and increased its price target to $220 from $218. Chevron shares were rising 0.9%.Hess Midstream (HESM) shares added 3.7% after it posted higher Q1 earnings and revenue.ConocoPhillips (COP) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips shares rose 1.1%.

Sector Update: Energy Stocks Decline Premarket Monday

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.3% lower.The United States Oil Fund (USO) was marginally lower and The United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was 0.4% higher at $102.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $110.13 per barrel, and natural gas futures were up 1.1% at $2.81 per 1 million British Thermal Units.Hess Midstream (HESM) shares were up more than 2% after the company posted higher Q1 earnings and revenue.Equinor (EQNR) is extending key supplier deals for drilling and well services with an aggregate value of about 17 billion Norwegian kroner ($1.83 billion), the company said. Equinor stock was up more than 1% premarket.ProPetro (PUMP) shares were down more than 5% after the company said it plans to offer $500 million in convertible senior notes due 2031 in a private placement, with an additional $75 million option for initial purchasers.

Sector Update: Energy

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% higher.The United States Oil Fund (USO) was up 1.1% and the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was 0.9% higher at $102.81 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.9% to $110.17 per barrel, and natural gas futures were up 0.4% at $2.79 per 1 million British Thermal Units.Hess Midstream (HESM) shares were up more than 2% after the company posted higher Q1 earnings and revenue.

Hess Midstream Q1 Earnings, Revenue Rise

Hess Midstream (HESM) reported Q1 earnings Monday of $0.68 per diluted share, up from $0.65 a year earlier.Analysts polled by FactSet expected $0.67.Revenue for the quarter ended March 31 was $390.1 million, up from $382 million a year earlier.Four analysts polled by FactSet expected $389.5 million.

Earnings Flash (HESM) Hess Midstream Posts Q1 EPS $0.68, vs. FactSet Est of $0.67

Hess Midstream Raises Quarterly Cash Distribution to $0.7792 a Share, Payable May 14 to Holders of Record May 7

Hess Midstream Shares Fall After Goldman Sachs Downgrade

Hess Midstream (HESM) shares were down 2.1% in Monday trading after Goldman Sachs downgraded the company's stock to sell from neutral and adjusted its price target to $32 from $36.Trading volume stood at more than 1.3 million shares, compared with a daily average of about 1.6 million shares.Price: $37.00, Change: $-0.87, Percent Change: -2.30%

Goldman Sachs Downgrades Hess Midstream to Sell From Neutral, Adjusts PT to $32 From $36

Hess Midstream LP (HESM) has an average rating of Hold and mean price target of $38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)