Andrew Benjamin Walz, who serves as President, DM&C at Chevron Corp (NYSE: CVX), sold 666 shares of the company’s common stock on February 12, 2026. The shares traded at $183.4 apiece, producing a total transaction value of $122,144.
After completing the sale, Walz retained direct ownership of 1,463 shares of Chevron common stock. In addition to his direct holdings, he has indirect ownership of 8,802 shares through a 401(k) plan.
The insider transaction occurs as Chevron pursues a number of strategic initiatives and commercial wins. The company has been awarded a new block in Libya’s Sirte Basin, marking an entry into that market that aligns with its broader exploration growth objectives.
Chevron has also secured a significant subsea contract with Subsea 7 for work in the Eastern Mediterranean Sea. The agreement is valued between $150 million and $300 million, and offshore activities associated with the contract are scheduled to begin in 2028.
Market analysts have taken note of Chevron’s mixture of shareholder returns and frontier exploration. One firm, Melius, upgraded Chevron’s rating to Buy from Hold, citing the company’s emphasis on dividends, buybacks, and exploration in high-impact frontier regions. The firm’s analysis also pointed to potential gains in Venezuela as part of its assessment.
Combined, the insider sale by Walz and the company’s operational developments present a snapshot of personal liquidity action alongside corporate efforts to grow exploration exposure and return capital to shareholders. The timing of the sale and the cited strategic moves are factual as reported; no additional motivations for the transaction were provided in the available information.
Key points
- Andrew Benjamin Walz sold 666 Chevron shares on February 12, 2026, at $183.4 per share for $122,144.
- Following the sale, Walz directly owns 1,463 shares and indirectly owns 8,802 shares through a 401(k) plan.
- Chevron has expanded exploration with a new block award in Libya's Sirte Basin and secured a $150 million to $300 million Subsea 7 contract in the Eastern Mediterranean, with offshore work slated to begin in 2028; an analyst upgraded the stock to Buy citing dividends, buybacks, and frontier exploration, including potential gains in Venezuela.
Risks and uncertainties
- No public explanation was provided for the insider sale, leaving the motive and any implications unspecified.
- The Subsea 7 contract involves future offshore activity beginning in 2028, meaning project timing and execution remain prospective.
- Exploration outcomes in frontier regions such as the Sirte Basin and Venezuela are inherently uncertain and could affect the commercial returns discussed by analysts.