House Financial Services Committee Member Unloads Up To $12 Million In Stocks
Trevor Schakohl on December 29, 2022
Outgoing Republican House Financial Services Committee member Van Taylor sold between roughly $3 million to $12 million in stock last month, according to his recently-released periodic transaction report.
Taylor has represented Texas’ third congressional district since 2019 after a more than 15-year career at the Churchill Capital Company, an investment firm, but abandoned his reelection campaign in March after admitting to an affair. His disclosed Nov. 28 transactions included selling between $1,000,001 and $5 million in Exxon Mobil stock and $500,001 to $1 million in Chevron holdings while maintaining some stock in those companies and dumping Occidental Petroleum stock worth up to $15,000.
Taylor also sold off more than $1 million and $100,000 of his stock in the Eli Lilly and Company and Bristol Myers Squibb pharmaceutical companies. He released as much as half a million dollars of holdings in the Moody’s Corporation, which controls the Moody’s Investors Service credit rating agency.
Exxon Mobil and Chevron stock fell by about 15.31 and 7.8 points respectively between Nov. 30 and Dec. 9. They closed at around $178.78 and $109.48 per share each on Dec. 28, while Occidental Petroleum‘s stock price declined by roughly 7 points from Nov. 30 to Dec. 28 and ended the day at $62.49 per share.
These stock developments accompanied major conflict on the global energy stage.
The U.S. and the other G7 countries announced a policy prohibiting Western companies from insuring or shipping Russian oil sold for $60 or more per barrel beginning Dec. 5. Russian President Vladimir Putin responded Tuesday by ordering a ban on exporting crude oil and petroleum to countries that price cap Russian crude oil.
Taylor’s office did not immediately respond to the Daily Caller News Foundation’s request for comment.
House Financial Services Committee Member Unloads Up To $12 Million In Stocks
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