Chevron’s Chief Financial Officer, Eimear Bonner, sold 7,534 shares on January 28th in a transaction disclosed in an SEC filing. The shares were sold for a total consideration of $1.28 million, reducing her direct stake from 11,900 to 4,366 shares—a 63.3% decline. This sale marks the largest insider disposition at Chevron so far this fiscal year and follows prior insider transactions totaling over $102 million in the last quarter.

In the fourth quarter, Chevron reported adjusted earnings of $1.52 billion, or $1.52 per share, compared with consensus expectations of $1.44 per share. Revenue for the quarter totaled $45.8 billion, down 10.2% year-over-year, but free cash flow reached $5.7 billion after organic capital expenditures of $5.1 billion. Production averaged a record 3.14 million barrels of oil equivalent per day, driven by new project ramp-ups at Tengizchevroil’s Future Growth Project, Ballymore, Whale and Anchor in the Gulf of Mexico.

Chevron announced a 4% increase to its quarterly dividend, raising it to $1.78 per share annualized, marking the fourth consecutive year of dividend growth. The company repurchased $3 billion of stock during the quarter, hitting the high end of its guidance range. For the full year, Chevron generated $20 billion of adjusted free cash flow, returning more than $25 billion to shareholders through dividends and buybacks.

Institutional investors continue to reshape their Chevron holdings. UMB Bank reduced its position by 2.9% in the third quarter, selling 10,635 shares and trimming its stake to 353,887 shares. Meanwhile, New York State Teachers Retirement System increased its holding by 15.3%, adding 215,345 shares for a total of 1.62 million shares, now representing approximately 0.5% of its portfolio. Overall, institutions own 72.4% of Chevron’s outstanding shares.