CJ only beats peers on down days I keep thinking CJ is due for a run, but it never materializes. While it does a good job of maintaining its value compared to peers when WTI declines, it seems to do nothing on these up days.
Now WTI is pushing towards $80 and there still are no buybacks occurring. Is management salting away the FCF for something other than shareholder returns? We'll find out next week. I want to see proof of the poverty angle which is getting used to defend the lack of buybacks.