Chevron Director John B. Hess Buys $15.1M of Hess Midstream Shares Amid DJ Basin Deal
HESM is trading near its 52-week low of $31.63 (8.9% above the low) on elevated volume (3.6× avg).
Summary
Chevron director John B. Hess bought $15.1 million of Hess Midstream Class A shares on October 7, 2026, one day after the DJ Basin acquisition and ~40% share cancellation were announced.
Key Events · Ownership and Investor Activity · HESM
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Insider Purchase by John B. Hess
John B. Hess, a Chevron director and listed person, purchased 457,596 Class A shares at $33.0612 per share on October 7, 2026, totaling approximately $15.1 million.
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DJ Basin Acquisition Context
The purchase occurred one day after Hess Midstream signed a definitive agreement to acquire Chevron's DJ Basin assets for $200 million in cash and cancel nearly 40% of its outstanding shares.
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Share Cancellation Details
The transaction will cancel 449,000 Class A shares and 77,827,485 Class B units/shares, reducing outstanding shares by nearly 40% upon closing.
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Timeline and Closing Conditions
The transaction is expected to close by year-end 2026, subject to HSR clearance and other customary conditions, with a termination date of October 6, 2027 (extendable by six months for regulatory approvals).
Analysis · HESM · Energy & Transportation
John B. Hess, a Chevron director and listed person, purchased 457,596 Class A shares at $33.0612 per share on October 7, 2026 — a $15.1 million out-of-pocket buy. This comes one day after Chevron agreed to sell its DJ Basin assets to Hess Midstream for $200 million and cancel nearly 40% of the company's outstanding shares. The purchase is a real-money vote of confidence from a Chevron insider at a pivotal moment, and it is the first insider buy disclosed in the 13D/A's 60-day lookback window.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 28.6% of the 1679 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HESM was trading at $34.44 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7B. The 52-week trading range was $31.63 to $41.44. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.