Midyear Update: Petroleum & Resources Hopes Exxon And Chevron Join The Game
- Closed-end fund PEO's total market return for the first half of 2014 was a respectable 14.7%.
- However, the funds top two holdings are laggards: Exxon and Chevron.
- In addition, PEO has another problem: a huge discount to NAV.
- Bottom line: PEO suffers from the same issue XOM and CVX have; executive management unwilling to take obvious steps to unlock shareholder value.