India, Oct. 7 -- Hess Midstream LP (HESM) is down 15.46 percent, losing $5.98 to $32.71 on Wednesday. The move is likely driven by the company's previously announced agreement with Chevron to acquire DJ Basin crude oil and natural gas gathering and storage assets, while Chevron contributes its existing ownership interests in Hess Midstream.
Hess Midstream is currently trading at $32.71, down from the previous close of $38.69 after opening at $36.05 on the New York Stock Exchange. The stock has traded between $31.99 and $35.76 during the session, with trading volume at 6.03 million shares versus average volume of 1.22 million.
Under the transaction, Hess Midstream will pay Chevron $200 million in cash and acquire DJ Basin assets with appro...