Market Commentary

Van Taylor Is Selling Energy and Pharma Stocks

Huzaifa Waseem
6 Feb 2024 · 2 minutes read

Republican Nicholas Taylor, better known as Van Taylor, disclosed on Tuesday that he was selling stocks in November. Rep. Taylor, the U.S. representative for Texas's 3rd congressional district, reported some large-money trades he made in the closing week of November.

The Congressman sold Exxon Mobil (XOM:US) shares worth between $1 million - $5 million on November 28, when the stock closed at $109.81 per share. XOM shares are up almost 73% year-to-date (YTD) as Energy stocks continue to outperform in the environment of rising prices.

Similarly, Mr. Van Taylor sold $500,000 - $1 million worth of Chevron (CVX:US) shares on the same day, when this energy stock closed at $178.36 a share. Chevron shares are up more than 50% YTD. Additionally, the Congressman sold some Occidental Petroleum (OXY:US) shares.

Yesterday’s disclosures also showed Rep. Van Taylor was selling shares of big pharma companies. He reported on the $1 million - $5 million worth sale of Eli Lilly (LLY:US) shares on November 28, when the stock closed at $365.77 per share. The Congressman was also selling Bristol-Myers Squibb (BMY:US) stock when it closed at $79.14 a share. BMY and LLY shares are up about 17% and 34% YTD, respectively.

As far as other bigger trades are concerned, the Congressman from Texas also sold Moody’s (MCO:US) stock in a transaction valued at between $250,000 - $500,000 on November 28 when shares closed at $291.89 a share. Unlike pharma and energy stocks, Moody’s stock is down almost 30% YTD.
Rep. Van Taylor, a member of the Financial Services committee in the House, doesn’t trade too often. He most often trades Energy stocks and Exxon Mobil is his favorite stock for trading.