I guess the BOD is content to just sit back and watch DH destroy this Co. He has sold off everything he can, and yet the stock price still languishes.
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But, but, but..at least we aren't Chesapeake! $.51
I think we should all be awarded high-paying jobs, be allowed to drive the company into the dirt, and get no blowback. At this point, some might propose a change in CEO. On the other hand, and as they say during the BOD Meetings: Great job, DH! Four more years!
It's only the shareholders' money, after all.
Devon has the most incompetent CEO in the business, hands down. $20B of market value has evaporated on his watch. He has sold everything he can, ploughed billions in to share buybacks and still no investor cares because the company has no future. No one will even but the thing now because it is too small and irrelevant. It is pathetic.
The Europeans and environmentalists have an agenda to keep oil price down, money away from the industry. Only 5% of money is coming to energy companies, this will explode ine day as demand will go up and if there is no money for exploring, prices will shoot up, all oil companies are struggling, XOM is the lowest in the past 15 years, that says a lot even though they discovered huge reserves off Guyana.
Actually, the huge descent began on Jan 16.
Just looking at the beginning of this month and the stock price is descending faster than that helicopter. Too soon?