John B. Hess, a director at Chevron Corp. (), sold a total of 370,000 shares of the company’s common stock for approximately $73,414,765 on May 20, 2026.
The sales were executed through a trust established for the benefit of Mr. Hess, who is also a beneficiary of the trust. The shares were sold at prices ranging from $191.5195 to $197.4498 per share, close to the current stock price of $191.43. The stock has delivered strong returns with a 47% gain over the past year and nearly 30% over the last six months, according to InvestingPro data, which shows Chevron remains undervalued relative to its Fair Value. The company has raised its dividend for 38 consecutive years, one of several key insights available in the comprehensive Pro Research Report.
Following these transactions, Mr. Hess’s indirect ownership through the aforementioned trust stands at 278,045 shares. Additionally, Mr. Hess holds 355,627 shares directly. His indirect holdings also include 7,244,497 shares through a limited partnership, 29,471 shares via a family limited liability company, 307,500 shares through another limited liability company, and 7,286 shares through a separate trust.
This report was filed with the Securities and Exchange Commission on May 22, 2026.
In other recent news, Chevron Corporation reported that its adjusted earnings per share for the first quarter of 2026 declined both year-over-year and quarter-over-quarter, although they surpassed consensus expectations. The company’s hydrocarbon production saw an increase compared to the previous year, largely due to the acquisition of Hess in mid-July 2025, despite a 4.6% drop in production volumes from the prior quarter. Meanwhile, Chevron announced the introduction of a reformulated version of its Techron gasoline additive, aimed at protecting engines from deposits caused by lower quality fuels, now available at U.S. Chevron and Texaco stations.
Additionally, Chevron is set to explore for oil and gas south of Malta, expanding into waters near established Mediterranean producers, with the exploration relying on existing data rather than new drilling. On the analyst front, Freedom Broker raised its price target on Chevron to $170 from $165, maintaining a Sell rating, while RBC Capital reiterated an Outperform rating with a $220 price target, highlighting Chevron’s decision to maintain its current strategy and capital framework. These developments come as prices surged, with rising 3% and U.S. West Texas Intermediate crude futures advancing 3.2%.
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