Insider Selling: Chevron (NYSE:CVX) Insider Sells 2,400 Shares of Company Stock

Chevron insider R. Hewitt Pate sold 2,400 shares of company stock on October 19th for over $541,000, reducing his holdings by more than 21%. This transaction was part of a pre-arranged trading plan, and comes as Chevron's stock nears its 52-week high after reporting strong quarterly earnings and maintaining a 3.1% dividend yield. Analysts generally hold a "Moderate Buy" rating for the energy giant.