Wells Fargo CEO Stumpf Buys Staggering $19.5M Worth of Chevron (CVX) Stock

After the close, Chevron (NYSE: CVX) Director John Stumpf, disclosed the purchase of 180,000 shares of common stock made on 05/11/15 at an average price of $108.10. Stumpf is the CEO of Wells Fargo (NYSE: WFC). He has been a director at Chevron since 2010.

The transaction value of the purchase is a staggering $19.46 million and comes with the stock down 14% over the last 12-months on plunging oil prices worldwide.

The purchase was massive compared to his prior direct share stake of just 1,885. He also owns 18,208 shares indirectly through a Family Trust. Following the recent purchase, Stumpf now own a total of 200,093 shares of Chevron.

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