'Depth of investing intelligence' was not being polite. You would think someone with your education could be a bit kinder. Masters in finance? Sounds like you may have missed the part about stock splits, so I thought I needed to make it simple.
XOM isn't Google, but when shares split, they become more attractive to investors because they can get shares for a lesser price. How many small investors want GOOG at over $600. The same principle applies to XOM. Stock splits are viewed as good. Maybe you want to say things aren't good for XOM as they haven't split the stock in quite some time. For you to ask about depth of investing intelligence and say 'good grief' shows some of the depth of yours.
“When you start cutting exploration budgets and you stop developing the next frontier…the seeds have been sown for the next bull market,” said Virendra Chauhan, analyst at London consulting firm Energy Aspects.