Hess Midstream (NYSE:HESM) +2.5% in Friday's trading as Wells Fargo upgraded units to Overweight from Equal Weight with a $47 price target, raised from $41, forecasting a 15%-17% annual total return proposition from dividends,

Chevron cut 575 positions in the Houston area after it completed its $55 billion merger with Hess, a Texas Workforce Commission filing revealed on Wednesday.

Chevron will lay off nearly 600 legacy Hess workers after its $55 billion acquisition July 18, according to the Texas Workforce Commission.