Why Oil & Gas Company Phillips 66 Shares Are Falling On Tuesday?

Phillips 66 (NYSE:PSX) shares are trading lower on Tuesday. On Monday, The company finalized an agreement to sell its 49% stake in Coop Mineraloel AG (CMA) to its Swiss joint venture partner for 1.06 billion Swiss francs (about $1.24 billion).

The deal includes a 1 billion Swiss franc sale price (around $1.17 billion) and a dividend of 60 million Swiss francs (roughly $70 million) ...