Chevron chief legal officer R. Hewitt Pate sells $9.7m in stock

Chevron's Chief Legal Officer, R. Hewitt Pate, recently sold approximately $9.77 million worth of company stock over the course of two days in mid-October 2026. The transactions took place under a pre-established trading plan and were completed at weighted-average prices ranging between $225.61 and $226.65 per share. This sale occurred as Chevron's stock was nearing its 52-week high of $228.48, following a strong year where the stock delivered a 51.5% total return.

The sale was a result of exercising non-qualified stock options, which Pate acquired through a transaction granted on January 26, 2022. These options, with an exercise price of $132.69 per share, were worth around $5.72 million. Pate's total beneficial ownership of Chevron common stock includes shares held in a 401(k) plan, acquired through dividend reinvestment of vested restricted stock units, and indirectly through trusts.

Despite these sales, Chevron has seen several analyst upgrades, with price targets raised to $250 by HSBC, $235 by UBS, and $234 by Mizuho.