Phillips 66 Partially Exits European Retail Market With $2.8 Billion Deal:
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2025
0mins
Should l Buy PSX?
Source: Benzinga
Phillips 66 Stake Sale: Phillips 66 has agreed to sell a 65% stake in its retail marketing business in Germany and Austria for approximately €2.5 billion, expecting pre-tax cash proceeds of around €1.5 billion to support debt reduction and shareholder returns.
Future Operations and Financials: The company will retain a 35% non-operating interest in the joint venture and continue supplying products through a long-term agreement, with the transaction expected to close in the second half of 2025, following regulatory approvals.
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Analyst Views on PSX
Wall Street analysts forecast PSX stock price to fall
15 Analyst Rating
8 Buy
7 Hold
0 Sell
Moderate Buy
Current: 161.500
Low
110.00
Averages
132.40
High
162.00
Current: 161.500
Low
110.00
Averages
132.40
High
162.00
About PSX
Phillips 66 is a diversified and integrated downstream energy provider that manufactures, transports and markets products. The Company's Midstream segment provides crude oil and refined petroleum product transportation, terminating and processing services, as well as natural gas and natural gas liquids (NGL) transportation, storage, fractionation, gathering, processing and marketing services. Its Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC, which manufactures and markets petrochemicals and plastics on a worldwide basis. Its Refining segment refines crude oil and other feedstocks into petroleum products, such as gasoline, distillates, including aviation fuels. Its Marketing and Specialties segment purchases for resale and markets refined products, mainly in the United States and Europe. Its Renewable Fuels segment processes renewable feedstocks into renewable products at the Rodeo Renewable Energy Complex and at its Humber Refinery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Surprise Profit: PBF Energy reported an adjusted profit of $0.49 per share in Q4, surpassing estimates of a $0.10 loss, indicating a significant rebound in refining margins due to supply disruptions from the Russia-Ukraine war and improved crude price differentials.
- Refining Margin Recovery: The U.S. refining sector experienced a sharp recovery in Q4, with the 3-2-1 crack spread benchmark rebounding from multi-year lows earlier in 2024, driven by tighter global fuel supplies and seasonal demand increases, which bolstered profitability.
- Increased Throughput: PBF's crude oil and feedstocks throughput rose to 888,900 barrels per day in the reported quarter, up from 862,000 barrels per day a year earlier, reflecting the company's ability to capitalize on market recovery opportunities.
- New Refinery Construction Update: PBF expects the construction of its Martinez refinery in California to be completed by February 16, 2026, with the catalytic cracking unit anticipated to start in the first week of March, further enhancing the company's production capacity and competitive position in the market.
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- Dividend Increase: The board of directors of Phillips 66 has declared a quarterly dividend of $1.27 per share, reflecting a $0.07 increase, payable on March 4, 2026, demonstrating the company's confidence in its future cash flows.
- Commitment to Returns: CEO Mark Lashier emphasized that the strength and durability of cash flows from their combined businesses support the priority of returning capital to shareholders through a secure, competitive, and growing dividend.
- Historical Performance: Since its formation in 2012, Phillips 66 has increased its annual dividend every year, achieving a significant 15% compound annual growth rate, showcasing the company's ongoing commitment to shareholder returns.
- Company Overview: Phillips 66 is a leading integrated downstream energy provider, involved in midstream, chemicals, refining, marketing, and renewable fuels, dedicated to safely and reliably providing energy while pursuing a lower-carbon future.
See More
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- Dividend Announcement: Phillips 66 has announced an increase in its quarterly dividend.
- Financial Impact: The increase reflects the company's strong financial performance and commitment to returning value to shareholders.
See More
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- Price Increase Announcement: Phillips 66 has raised its target price to $170 from a previous $159.
- Market Impact: This adjustment reflects the company's positive outlook and potential growth in the market.
See More
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- Layoff Announcement: Phillips 66 will lay off 122 employees at its California refinery effective April 3, reducing the workforce to approximately 300, indicating a significant contraction in the company's refining operations.
- Closure of Historic Refinery: The century-old refinery, which once processed 139,000 barrels of oil per day, has ceased operations as of late last year, marking the end of the company's refining presence in California.
- Total Employee Reduction: This layoff follows a previous notice of 155 job cuts, bringing the total layoffs to 277, reflecting the company's strategic response to market challenges that may impact its market share in California.
- Industry Implications: The reduction in refining operations will negatively affect the employment landscape in California and could disrupt the regional fuel supply chain, intensifying competition within the industry.
See More
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- Rating Upgrade: Phillips 66 (PSX) has received an overweight rating, indicating analysts' optimistic outlook on its future performance, which may attract more investor attention.
- Price Target Analysis: The average price target set by analysts is $155.16, reflecting market recognition of the company's growth potential, which could drive the stock price closer to this target.
- Increased Market Confidence: An overweight rating typically suggests that analysts believe the stock will outperform its peers, potentially boosting investor confidence in Phillips 66.
- Investor Strategy Adjustment: With the rating upgrade, investors may reassess their portfolios and increase their holdings in Phillips 66, thereby impacting its market performance.
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