Chevron Stock Dips After Insider Selling Spree

Chevron's share price fell by 1.5% on Friday after two high-ranking executives sold large amounts of company stock.

The decline came as CEO Michael K. Wirth and Director John B. Hess each exercised their options to offload shares, with Wirth selling nearly 6,000 shares for $1 million.

Hess, who also serves on the Chevron board, sold more than 820,000 shares over two separate transactions worth a combined total of around $157 million.