It seems that oil companies, like COP, who reorganize, divest, and become smaller are doing better than the giant 'Exxon'. In 2006, the new Exxon CEO outlined his stragety. His strategy was 'stay the course', no changes. Because of that strategy, Exxon has lagged the other major oil companies when it comes to delivering shareholder value.
In the past five years, Chevron’s shares have risen 62 per cent, Conoco’s 85 per cent and Occidental’s 76 per cent, but Exxon’s are up only 18 per cent. Exxon is soo big that it fails.