Oil is down, refining equities surging. PSX up 1.7%, VLO up 2.9% and MPC 2.2%
The hole deepens
6 replies (most recent on top)
Even when the company is doing good, the ELT does stupid things!
I truly cannot comprehend why you guys give a single sh-t about the stock price? Like you're not investing in this trainwreck, right? I can't imagine you have much in the way of RSUs... Who cares what it does so long as it doesn't go low enough to make the ELT do more stupid sh-t?
@b2 spot on. Break it up.
The day ended worse than the OP’s numbers.
Look at the integrated company’s performance YTD:
Chevron: +38%
Exxon: +33%
Mark is advocating to DILUTE performance more by being measured as an integrated rather as a refiner.
Why is that? The benchmark is lower. He knows it. He has been shown the data. It shows that integrateds never lead. It shows that being a focused competitor with a targeted investor base outperforms.
Why does he not act? The pay. Look up any one of the PSX companies that compete on a standalone basis. All make less than him. He does not want the 40% pay cut. And the board does not want to lose a cushy job flying on g5s and 6s and staying at the four seasons or at Chatham Bars on Cape Cod.
Mark, Kevin, and Sean can keep touting the integrated portfolio but the market says one thing back and they won’t listen: we like focus, we like clear capital allocation priorities, and we like execution.
PSX is confused about what it takes to be successful. The management team and Board won’t listen. Shareholders continue to suffer.
MPC or VLO please buyout PSX! Make refining great again.