Argus
•
Apr 29, 2025
Phillips 66: Activist Elliott Investment now holds a $2.5 billion stake
Summary
Phillips 66 is a downstream energy company with assets in five segments: Refining, Marketing & Specialties, Chemicals, Midstream, and Renewable Fuels. Its Refining and Marketing operations include 12 refineries with net crude capacity of 2.2 million barrels per day. Its Chemicals operations are conducted through a 50% interest in CP Chem, which has more than 33 billion pounds of net annual processing capacity. Midstream operations are conducted through DCP Midstream and through the company’s controlling stake in P
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Analyst Profile
William V. Selesky
Senior Analyst: Basic Materials
Bill covers the Basic Materials sector for Argus. He has worked in the investment business for over 15 years, including positions as a senior equity analyst for firms such as Palisade Capital Management, PaineWebber/Mitchell Hutchins Asset Management and John Hsu Capital Group. He has provided coverage on groups including Consumer Staples, Consumer Discretionary, Energy, Media, Transportation, Gaming and Utilities. At PaineWebber, he also served as part of a team that managed $9 billion in active equity products. Prior to working in the investment field, Bill spent eight years as a credit analyst at American Express Company and five years as an analyst at Equifax Services. Bill has a Masters of Business Administration degree in Investment Finance from Pace University, and a Bachelor of Science degree in Economics from Fordham University.
