Chevron Corp. CVX has decided to divest its Hawaii refinery to One Rock Capital Partners – a private equity firm. This has ended an era of six long years of Chevron’s efforts to sell this property.The divestiture includes a plant with a refining capacity of 58,000 barrels every day, four storage terminals and 58 gasoline stations. The refining unit provides jet fuel to the airlines of the Hawaiian Islands and U.S. military. Investors should know that the accord will likely close by the second half of this year subject to customary closing conditions.Although the agreement’s financial terms haven’t been revealed, as per industry estimates in media sources, the value of the deal falls within a broad range of $75 million to $300 million. The only other refinery of Hawaii was sold by Tesoro Corporation TSO during 2013 for $325 million. San Ramon, CA-based Chevron is one of the largest publicly traded oil and gas companies in the world, based on proved reserves. It is engaged in oil and gas exploration and production, refining and marketing of petroleum products, manufacturing of chemicals, and other energy-related businesses. Most importantly, the company’s oil and gas development project pipeline is among the best in the industry.However, with crude prices still at low levels, Chevron’s upstream division has been able to extract less value for its products. This has put pressure on the group’s profit margins.As a result, Chevron currently carries a Zacks Rank #3 (Hold), implying that it will perform in line with the broader U.S. equity market over the next one to three months.Some better-ranked players in the energy sector are Suncor Energy Inc. SU and Antero Resources Corporation AR. Both the stocks sports a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TESORO CORP (TSO): Free Stock Analysis Report SUNCOR ENERGY (SU): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report ANTERO RESOURCE (AR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research