Oil doesn't come up out of the ground free. You drill what is most profitable first. Yes, it is there, but you can't count it toward the "asset" column without adding the cost to produce it first. That is your first problem. Second, everything you said was true when Exxon was trading $5-10 dollars higher. It has never traded over $103. So, if everything you said was true, and it was valued at $103 when oil was at 100+ a barrel, and everything you said was still true, how do you explain that amount of oil being worth "half". At some point it has to factor in. You can't just ignore it like some kind of blithering idiot.
Just answer me one question chart. How do YOU quantify the value of profit lost in terms of share price of the price of oil cutting in half. Ya they are gonna still make money, just not as much. How do YOU quantify the value of the loss of that profitability?
Most people, when you cut there business revenue in half don't value the company 10% off the all time high anymore.
You people are all drinking the kool aid. You probably voted for Obama and healthcare reform too huh?
How is that 25 years in the biz working out for ya this morning? Looks like someone is dry docking your long position, jackxxx.
like tijuana paid female friend dirty. You better put on 3 condoms and wrap your entire body in saran wrap or its gonna rot and fall off messing with this trick. It is trading in a "this thing will go down when we say it will" kind of way more so than a "free market" kind of way.
The three month chart looks EXTREMELY ugly if your long.
Fresh five year lows today on oil and even if it turns around (nobody saying its not going to end up at least 25% down even if it does recover in 12 months) its still going to wreck earnings for 3 qtrs at least. Hilarious that XOM is 10% off all time high.
Xom was 30 points lower. What is different today? Natural gas tanked also? I don't see any volume today at this price level. I don't think the price going up is going to generate buyers.
What am I missing?
In a week, this stock has risen almost 10% from the low, and everyone knows everything they sell, whether it be exploration or not is based in a commodity that has lost half its value. If it was worth whatever it was before based on earnings, you kill those earnings, it isn't worth what you said it was anymore. This stock makes no sense. NONE. Hello?!?! Anyone out there? Do you think they are going to report gains in earnings next quarter? Hello?!?!?! Anyone home? Maybe I'm just stupid. Apparently I am. If I am though, everyday it traded above what it is now before oil crashed is a LIE. You pick it, but either way it makes NO SENSE.