Phillips 66 EVP Harbison sells $11.6m in shares

Phillips 66 Executive Vice President of Refining, Richard G. Harbison, sold 52,100 shares of company common stock on August 12, 2026 for roughly $11.6 million. The shares were exchanged at an average price of $223.76, with individual sales between $223.61 and $223.95. This transaction occurred as Phillips 66's stock is near a 52-week high of $232.89. Over the past year, the stock has returned 96%, and InvestingPro's analysis indicates the company is currently undervalued.

Simultaneously, Harbison bought 52,100 shares of Phillips 66 on the same day through employee stock options. These purchases comprised 13,500 shares at $74.70, 14,800 at $89.05, and 23,800 at $100.435, amounting to about $4.72 million. Harbison now holds a total of 39,094 shares in the company, including 23,008 Restricted Stock Units that will convert to shares on a one-to-one basis. He also indirectly owns 7,116.196 shares through the Phillips 66 Savings Plan and an additional 40 shares via his son.

Despite selling shares, Phillips 66 reported adjusted earnings of $9.41 per share in Q2 2026, exceeding the expected $7.02 per share. However, revenue was $42.1 billion, lower than the forecasted $43.41 billion. Piper Sandler raised its price target on Phillips 66 to $209 from $208, but maintained a Neutral rating, citing significant progress in reducing gross debt with a target of $17 billion by year-end, one year ahead of schedule. The article was AI-generated and reviewed by an editor.