COMPARE · Reviewed July 2, 2026
HESM vs PARR
Verdict: Side-by-side breakdown using the Bull Rankings model. HESM scored 65.3, PARR scored 65.2 — HESM ahead by 0.09999999999999432.
HESM
Hess Midstream LP
65.3
$38.16
Score gap
0.09999999999999432
HESM leads
PARR
Par Pacific Holdings, Inc.
65.2
$58.49
The companies
HESMHess Midstream LP
Why now
Oil & Gas Midstream · market cap $7.9b. 14% off the 52-week high of $44.14. 6 sell-side analysts rate this an Underperform with a mean 1-yr target of $36.83 (implying -3% upside).
Moat
Net margin 23% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Dividend payout 103% of earnings on a 8.0% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Hedge-book exposure — many commodity producers hedge forward production; if the hedge book is concentrated at prices well below spot, the upside the market expects is already locked away.
PARRPar Pacific Holdings, Inc.
Why now
Oil & Gas Refining & Marketing · market cap $2.9b. 17% off the 52-week high of $70.39. Revenue -6% — in contraction; any catalyst that reverses this triggers re-rating. 7 sell-side analysts rate this a Buy with a mean 1-yr target of $75.00 (implying +28% upside).
Moat
ROE 30% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which.
Risk
Revenue contracting -6% — the operational turn is not yet visible in the top line. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.
Base grades (each contributes ~14.3% of base composite)
| HESM | Component | PARR |
|---|---|---|
| C+70 | FCF | C65 |
| B80 | Rev | D50 |
| C65 | D/E | C+70 |
| B+85 | P/E or P/S | A95 |
| C+70 | PEG | C65 |
| Supplemental signals · feed the score, not on the row card | ||
| A95 | FCF Yield | A-90 |
| C65 | ROE | A-90 |
| 76.6 | Base composite | 75.9 |
Adjustments (signed deltas applied on top of base)
HESM
analyst consensus weak (0% buy)-2
yield trap (yield 8.0%, payout 103%)-2
DCF cross-check (avg upside 190%)+2
ROE truncated (buyback-depleted equity)-1
Total-3
PARR
compounder synergy (FCF yield ≥5% + ROE ≥15% + D/E <1)+4
analyst consensus bullish (86% buy/strong-buy)+2
Total+6
DCF cross-check (per-share value vs. live price)
| HESM upside | Horizon | PARR upside |
|---|---|---|
| +159% | 1Y | +38% |
| +184% | 5Y | +23% |
| +227% | 10Y | +6% |
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.