Phillips 66 filings document the regulatory record of an integrated downstream energy company with common stock listed on the New York Stock Exchange under PSX. Recent 8-K reports furnish quarterly operating and financial results, preliminary financial guidance, segment-related metrics, derivative and mark-to-market disclosures, dividend actions and business updates across refining, midstream, chemicals, marketing and renewable fuels.
The company's filings also cover material financing arrangements, including term loan agreements and amendments to receivables facilities, as well as direct financial obligations and off-balance-sheet financing structures. Proxy materials disclose annual meeting matters, board composition, committee assignments, executive compensation, shareholder voting items and governance practices.
Phillips 66 reported the results of its Annual Meeting of Shareholders held on May 13, 2026. Shareholders elected four Class II directors to three-year terms ending at the 2029 annual meeting, with each nominee receiving over 271 million votes in favor and substantial broker non-votes recorded.
Shareholders also approved, on an advisory basis, the compensation of the company’s named executive officers, with 285,329,903 votes for, 10,789,646 against, and 1,671,953 abstentions. In addition, they ratified the appointment of Ernst & Young LLP as independent registered public accounting firm for 2026 by 347,828,980 votes for, 3,118,895 against, and 912,709 abstentions.
Phillips 66 Executive VP and CFO Kevin J. Mitchell reported option exercises and share sales that were carried out under a domestic relations order. On May 8 and 11, 2026, 30,000 employee stock options were exercised at prices of about $94.85–$94.97 per share, and 30,000 shares of common stock were sold in open-market transactions at weighted average prices around $170.00–$171.56. A footnote explains that both the option exercises and the sales were made solely at the direction of his ex-spouse, who will retain the after-tax sale proceeds. After these transactions, he holds 97,376 Phillips 66 shares directly, plus 31,849 Restricted Stock Units that settle 1-for-1 in common stock, and 1,300.777 shares indirectly through the COP Savings Plan.
Phillips 66 reports an intended sale of Common Stock. The filing states an intent to sell 600 shares of Common Stock on 05/11/2026 via a stock option with cash consideration. The filing also lists recent open-market dispositions: 29,400 shares on 05/08/2026 for $4,997,153.53, 15,629 shares on 03/30/2026 for $2,970,077.63, 16,856 shares on 03/05/2026 for $2,833,273.26, and 4,944 shares on 03/04/2026 for $815,672.66.
Affiliate proposed sale of Common Stock reported on Form 144. The notice lists proposed cash sales tied to stock options dated 02/06/2018 for 5,400 shares and 02/05/2019 for 24,000 shares, with a sale date of 05/08/2026. The filing also discloses prior sales in the last three months: 16,856, 4,944, and 15,629 shares, with associated proceeds shown in dollars.
Phillips 66 director Kevin Omar Meyers completed an open-market purchase of common stock. On May 6, 2026, he bought 175 shares of Phillips 66 common stock at $173.125 per share. Following this transaction, he directly holds 16,799 shares of common stock.
This direct position includes 949 Restricted Stock Units, which settle into Phillips 66 common stock on a 1-for-1 basis.
Vanguard Capital Management reported beneficial ownership of 30,148,338 shares of Phillips 66 common stock, representing 7.52% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 30,148,338 shares and sole voting power for 4,040,354 shares. The Schedule 13G discloses that the holdings include securities held for Vanguard funds and managed accounts; the filing was signed on 04/30/2026.
Phillips 66 Schedule 13G: Vanguard Portfolio Management reports beneficial ownership of 22,173,687 shares of common stock, representing 5.53% of the class as of 03/31/2026. The filing shows sole dispositive power over 22,173,687 shares and sole voting power for 72,995 shares. The filing includes affiliates and managed funds per the issuer-specific disclosure.
Phillips 66 reported net income attributable to Phillips 66 of $207 million for the quarter ended March 31, 2026, compared with $487 million a year earlier. Revenue rose to $33.0 billion from $31.7 billion, but results were pressured by large derivative losses and higher costs.
Earnings per diluted share were $0.51, down from $1.18. The company recorded a $2.65 billion net loss from commodity derivative activity and used $2.26 billion of cash in operating activities, driven mainly by higher inventories, receivables and about $3 billion of cash collateral on derivatives.
To support liquidity amid rising commodity prices, Phillips 66 had net debt borrowings of $7.7 billion, ending the quarter with $5.2 billion of cash and $0.8 billion of unused committed credit capacity. It paid $509 million in dividends and repurchased $269 million of stock, while capital spending totaled $582 million, largely in Midstream and Refining. The company also carried an $887 million accrual related to the Propel Fuels litigation judgment, which remains under appeal.
Phillips 66 reported a sharp earnings slowdown for the first quarter of 2026. Net income was $207 million, or $0.51 per diluted share, down from $2.9 billion in the prior quarter. Adjusted earnings were $200 million, or $0.49 per share.
Results were heavily affected by $839 million of mark‑to‑market losses on short derivative positions used to hedge commodity price risk, while the related inventory gains are not recognized under LIFO accounting. Refining ran at 95% crude capacity utilization with an 87% clean product yield, and the company increased its annualized quarterly dividend by 7%.
Liquidity remained significant at about $6.0 billion, including $5.2 billion of cash and $800 million of committed credit facilities. Total debt rose to $27.1 billion, lifting the debt‑to‑capital ratio to 48% from 39% in the prior quarter.
Phillips 66 issued preliminary guidance for first-quarter 2026, flagging about $900 million in pre-tax mark-to-market losses on commodity derivatives after a sharp run-up in prices. These unrealized hedge losses are not offset in book value by higher inventory values, despite a net short position of roughly 50 million barrels.
Estimated income before taxes ranges from $550–$600 million in Midstream and $80–$130 million in Chemicals, offset by expected losses in Refining, Marketing & Specialties, Renewable Fuels and Corporate. The company also projects adjusted income before taxes that excludes certain special items.
Liquidity was affected by about $3 billion of cash collateral outflows on derivatives, prompting draws on credit lines, a fully drawn $2.25 billion 364-day term loan and an upsized receivables facility. As of March 31, 2026, Phillips 66 reports roughly $6 billion of liquidity, with $27 billion of total debt and $22 billion of net debt, while reaffirming a total debt target of $17 billion by end of 2027.