John B. Hess, CEO of Hess Corporation, has demonstrated a pronounced selling bias in his recent insider transactions, particularly involving Chevron (CVX) stock. Over the past year, Hess has executed seven sales of CVX shares totaling approximately $240.6 million, with no corresponding purchases. The most significant transactions occurred in November 2025, including a single sale of $33.9 million on November 21 and another of $33.1 million the prior day. Earlier that August, he divested a larger block worth $59.4 million. These disposals follow his July 2025 departure from Hess Corporation (HES), as indicated by multiple Form 4 filings marking the termination of his derivative holdings in the company.
Hess’s trading activity also includes Goldman Sachs (GS), though these filings reflect administrative adjustments rather than market transactions. The absence of any recent buys across his portfolio—spanning CVX, GS, and former holdings in HES—suggests a consistent reduction in equity exposure. The concentrated selling in Chevron, particularly in late 2025, underscores a strategic shift away from these holdings, though the filings provide no context beyond the transactional data. With no purchases offsetting these sales, the pattern aligns with a broader trend of divestment rather than portfolio rebalancing.
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