How One Oil Company Defied Crude's Slump by Surging 142%: Chartby
The Malaysian unit of the biggest Philippine oil refiner has been a star performer the past year even as its parent and oil prices slump. Petron Malaysia Refining & Marketing Bhd. surged 142 percent as the company has been able to expand its retail network, offsetting falling crude, and
turning profitable in the third quarter amid stable margins. Parent Petron Corp. has tumbled 35 percent as investors take a “reactive action” on the stock seen as a “proxy” to oil prices, according to Ghia Paula Yuson, an analyst at First Metro Securities Brokerage Corp.