You can look this up. Exxon was $96 a share in May of 2008. Dow is thousands and thousands of points higher and the stock is $98 and falling. Despite the greatest bull market in history basically all the shareholder got was the dividend barely averaging under 2.5% over this period. This is a real indictment of company management which is to say the least not shareholder friendly. Further, the terrible production results (which drove the stock down 4% when the company reported its earnings), the awful XTO acquisition, and the really lousy deals with Russia call into question the basic competence of this management. I can understand why the Excin apologists who have been so wrong for so long have been quiet lately except of course for some certifiable individual raving about Exxon going to $1000. Would love to hear reasoned arguments from the apologists about why they think the market has been so wrong about Exxon (in their opinion), you can insult me and try to remove my posts but that does not change the facts concerning this dreadful stock and the hundreds of billions of dollars of shareholder wealth destroyed by Tillerson and company.
No can argue with the statistics and charts. This stock has truly been an absolutely dreadful performer by any measure since Tillerson became CEO. Shareholders have been very poorly served by this management. You can call me names but you can't argue with the stats.
AMEN! I will stipulate that if you've had the stock for the last 20-30 years you've done well (as you would have done well with the vast majority of large caps over this time period), but the last 5-6 years have been painful no matter what the blind Exxon apologists on this board say. Unfortunately the relative underperformance just gets worse and worse while the apologists who have been so consistently wrong just chirp on.
You should read past the headlines. First, the only reason Exxon "beat" is a non recurring profit on an asset sale and more importantly Exxon's production fell a staggering 6% from last year and has been falling for several years in a row. Wall Street pros aren't stupid and a stock does not fall over 6% because it had a god quarter. Dudes, this company is in the stealth liquidation mode and the market is aware.
President Obama is complaining about "whiney" CEOs and is calling for "socially responsible" CEOs who would be happy to pay higher taxes to the government instead of fulfilling their obligations to their customers, shareholders, and employees. Let's compare these CEOs. The non "socially responsible" CEO will try to maximize profits and minimize taxes in a legal and ethical manner while realizing that he can accomplish nothing for his shareholders and workers unless he serves his customers well. If the CEO is successful everyone benefits: customers get lower prices and better service increasing their profits, the shareholders get more dividends and capital gains, money they can spend,invest, or save for retirement (keep in mind that thousands on indirect shareholders via mutual funds and pension funds also benefit); the increased profits also mean more hiring, higher wages, and more capital investment leading to more jobs. These profits, savings, dividends, wages etc go into the economy and everyone benefits.
On the other hand, the "socially responsible" CEO according to the president will pay maximum taxes meaning less profits, wages, dividends going into the economy; higher prices; and less saving, investments, and jobs. There will be more going to the government which will all be spent. By its very nature the money will
be spent inefficiently as it costs money to collect the taxes and then give the money to others even assuming zero waste, fraud, or abuse.
Pardon the length of this post to say what most of you already know. However it does show that as much as I do respect Barack Obama as President of the United States, he is still a community organizer who just dosen't get it as far as how the economy works. Just as he does not get the most basic concepts of foreign
policy, but that's another post.
Zero price appreciation since spring 2008, worst or second worst Dow stock since then. Really great because it's still above 60 (for now).
Agree. Company has bought back large amounts of stock and yet the stock is where it was in 2008. One of many ominous signs for this stock.
You pulled your numbers out of your hat. Exxon up essentially ZERO percent since spring 2008. Before you make totally inaccurate comments, look at a chart.
Cap- ex spending up 50% since 2009, production down with the rate of decline rapidly accelerating. Helps to explain why this has been one of the worst three dow stocks since 2008. The underperformance of this stock is amazing as is the gross mismanagement. However if one reads many of the posts on this board, you would think Excon has been one of the best Dow and S&P stocks but actually it is one of the very worst. Wended totally new management and a new Board. Unfortunately not happening.
Easy come, easy go is right far as this piece of garbage stock is concerned. But the shareholder's wealth didn't just vanish it was destroyed by total and complete malpractice by this CEO and a Board of Directors without one single member that knows anything about the oil business. Although I must concede that the Board's pictures look great. People who worked hard to save and invested in this company in the last 6 years have truly been betrayed by these people
In the spring of 2008 Exxon was over $96 a share. Today the Dow is 5000-6000 points higher and Exxon is 98 and falling. That's dismal whether you are dripping or not. As a matter of fact, it's even worse if you're dripping. Because instead of wasting your money dripping Exxon, you could have bought any one of the other 29 Dow stocks and done better. This stock and this management stinks and you know it unless you are illiterate and can't read a chart. Also note that the VP and comptroller is retiring that's a start but the rest of this comically incompetent management must go starting with the CEO.
Every quarter management promises they will increase their production. After spending hundreds of billions of dollars on exploration, after all the lousy deals with Putin, and after blowing $42 billion on XTO what did we get? A 6% DECREASE in production! Wall Street which is used to rotten performance by this company was shocked and knocked the stock down over 4%. The stock is back to where is was in May 2008. This is really an indictment of management and is truly pathetic. Shareholders have been very ill served by Exxon management.
For those who don't know XOM was $96-97 in May of 2008 when the Dow was 5000points lower and the S&P was even less. The XOM apologists have been pushing this miserable stinking dog since then. They couldn't have made a worse pick. But at least they are consistent, consistently wrong.
Down again. Down nearly 4% in less than a week. Getting ready to bust 100. Continues its drastic relative underperformance under Tillerson. Problem is that the CEO is totally incompetent and was a horrible choice to be CEO. Board of directors consists of accomplished people none of whom knows the first thing about the oil business. Major holders are passive index funds. So the result is billions of dollars of wealth destroyed by this likely well meaning but horrible CEO. Welcome comments but would like facts/ numbers instead of ad hominem comments. And I know that if you bought the stock 10 and especially 20 to 40 years ago you have done great. That's because the present cipher didn't become CEO until 2005.