- aaaand, go!
https://www.dallasnews.com/business/energy/2020/08/24/dow-boots-exxon-mobil-from-blue-chip-club-in-stunning-out-with-energy-and-in-with-cloud-shake-up/
13 replies (most recent on top)
Relax.. it’s just Dow.. S&P500 next? Foreseeable?
@1igi - it's greatly different between being an underdog sliding up and down the chart and being once staying at the top of the chart and now sliding off the chart. It's the mentality that thinks that this is usual has brought the company the the she today.
Keep in mind that this is EM's guiding principles: "Exxon Mobil Corporation is committed to being the world's premier petroleum and chemical manufacturing company. To that end, we must continuously achieve superior financial and operating results while adhering to high ethical standards."
How can you call falling off from the Dow the same as "continuously achieve superior financial and operating results"?
That mentality is sick and should be changed in order to bring this company back to where it once was.
Good statement "We need to work together to get our company back on track!", bring the people that were laid off to help to bring the company back!
Dow stocks getting the boot, while headline-worthy, isn’t unusual. On average, a Dow Jones component is replaced about once per year. And contrary to popular belief, it doesn’t have to serve as a kiss of death for a stock. There are several companies that were booted out of Dow in the past that have gone on to still remain strong. Take Bank of America or Citibank as an example - both have done fine without the Dow Jones. Point is not every company has to end up like GE even though it hurts our pride big time.
Also many companies have been booted out have returned back to the Dow. Just look it up.
We need to work together to get our company back on track!
Whoa, CVX is still in the elite club. XOM/XON stayed for more than a century, the longest so far. What a fall from grace. The truth is that we have sufficient reserves to last the world a few more decades and so oil is not valuable now. In a few more years, we will not and should not rely on oil. So rightly so, boot XOM off Dow.
ExxonMobil has been in the Dow Jones Industrial Average for almost 100 years! Dow’s move is driven by Apple’s recent 4 for 1 stock split, which reduced the Dow’s exposure to the important technology sector. ExxonMobil stock is down 40% this year. The replacement, Salesforce, is up 28% YTD. Dow Jones has concluded ExxonMobil is NSI and will be booted next Monday. No token PIP option. Chevron will remain in the Dow. Chevron’s 10 year average annual stock return 5.7%. ExxonMobil’s 10 year return is 1.74%. The Dow Jones Industrial Average average return over the last 10 years is 10.4%. Looks like Dow Jones made the right call on this one. Let‘s hope our brilliant leaders can maintain our membership in the S&P 500!
Cheers! It is time to pay for decades of mistreating value producing Engineers!
It’s a sign.. time to get that resume ready.. and start applying
Dividend is payment per share. Unrelated to share price. We still have to pay $3.7G every quarter. It just means our shareholders don’t believe we will continue to keep paying the dividend for much longer. Higher dividend yield means higher risk - ours is 8% and climbing...
The lower the stock goes, the less we pay to maintain the divided. That's one easy way to reduce payments.
I was on sabbatical since February - just got back from Nauvoo.
I thought the ExxonMobil stock had Split - like an apple - and I was rolling in clover.
Poor fool me.
It is long overdue. Good riddance.