Phillips 66 (PSX) Stock — CFO Sells $2.97M Near 52-Week High

TLDR

• CFO Kevin Mitchell sold 15,629 PSX shares worth $2.97M on March 30, 2026, near the stock’s 52-week high.
• The sale price ranged from $190.00 to $190.40, close to the all-time high of $190.61.
• Mitchell also exercised options to buy 15,629 shares at $94.97, costing $1.48M on the same day.
• After the transactions, Mitchell directly holds 97,376 shares, including 31,849 restricted stock units.
• PSX stock has gained ~46% over the past year and is up 42.34% year-to-date.

Phillips 66 (PSX) closed down 3.59% on the day, with the stock trading near its 52-week high of $190.61 ahead of the disclosed transactions.

Phillips 66, PSX

Phillips 66’s CFO Kevin Mitchell sold $2.97 million in PSX stock on March 30, 2026, near the stock’s 52-week high, while exercising options on the same day.

The sale came after PSX stock has climbed nearly 46% over the past year. Mitchell sold 15,629 shares at a weighted average price of $190.07, with individual prices ranging between $190.00 and $190.40 — just cents below the stock’s all-week high of $190.61.

On the exact same day, Mitchell exercised options to pick up the same number of shares — 15,629 — at $94.97 each, for a total cost of $1.48 million. The gap between the exercise price and the sale price reflects a solid paper gain on those options.

After both transactions settled, Mitchell still directly owns 97,376 shares. That figure includes 31,849 Restricted Stock Units. He also holds an additional 1,300 shares indirectly through the COP Savings Plan.

The move was disclosed via a Form 4 filing with the SEC, standard practice for corporate insiders transacting in company stock.

Context Around the Sale

PSX has had a strong run. The stock is up 42.34% year-to-date and 46% over the past 12 months. Selling into strength near a 52-week high is a fairly common pattern for executives looking to realize gains on vested options or diversify their holdings.

According to InvestingPro, PSX still appears undervalued relative to its estimated fair value, with the stock trading at a price-to-earnings ratio of 16.26. That suggests the insider sale may be more about portfolio management than a view on the company’s direction.

Phillips 66 has been busy on several fronts. In its Q4 2025 earnings report, the company beat on adjusted EPS — coming in at $2.47 versus the $2.25 forecast — but missed on revenue, with $32.14 billion against an expected $34.14 billion.

Recent Company Moves

The company also secured a $2.25 billion term loan through Mizuho Bank with a 364-day maturity window, adding financial flexibility to the balance sheet.

On the governance side, PSX brought in Howard Ungerleider and Kevin Meyers as new board members following engagement with activist investor Elliott Investment Management.

Analyst sentiment remains constructive. TD Cowen raised its price target on PSX to $155 with a Buy rating, citing improved refining operations and increased capacity.

PSX stock carries a technical sentiment signal of Buy, with a current market cap of approximately $73 billion and average daily trading volume of around 3 million shares.

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