Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit. Here's What It Means for CVX Stock.
Chevron is simplifying its portfolio and strengthening its Bakken economics.
Overview
Chevron (NYSE:CVX) is unloading some of its midstream assets, including its stake in Hess Midstream (NYSE:HESM). The deal will simplify its operations and balance sheet, while saving it money over the long term. However, it comes with an upfront hit of a $3 billion-$4 billion one-time after-tax loss.
Here's a look at what this transaction means for an investment in Chevron.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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