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. (RELATED: Top Biden Regulator Proposes Overhaul Of Stock Market Rules)
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.
WASHINGTON, DC – SEPTEMBER 22: Rep. Van Taylor (R-TX), listens as U.S. Treasury Secretary Steve Mnuchin testifies before the House Financial Services Committee during a hearing on the Treasury Department’s and Federal Reserve’s coronavirus (COVID-19) pandemic response at the U.S. Capitol on September 22, 2020 in Washington, DC. (Photo by Caroline Brehman-Pool/Getty Images)
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.
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