https://oilprice.com/Latest-Energy-News/World-News/Church-Of-England-Dumps-All-ExxonMobil-Stock.html
Many will follow suit in the US including JPMorgan.
15 replies (most recent on top)
Great dividend off set by falling stock price equals Ponzi. Last one in loses.
@1elv+17lqGBII yes I'm going to take an anon's word for it! How about uhhh no. People can see the writing on the wall. Microsoft just announced work from home indefinitely. Many companies will follow suit. Demand will drop and the cartels will push weak xom out of market.
Bad decision based on PC. Now is NOT the time to sell the stock. The stock even though low priced pays a great dividend. Theirs was a bad financial decision based on their climate views, I’d not be happy as an investor over there. The energy market will certainly recover, the company lean up and recover just fine. It’s hard to see anything positive if you are PIP’d but trust me, things will turn around.
Your comment is on point. They will buy it at at $60 next year
Isn’t it more irresponsible to hold a terribly managed stock? If you recalled GE? Selling at 20 is also very wise.. Darren Woods has got us into a mess he cannot recover from.. I pray he issue more bonds to tied us through.. looking at IC forum it’s so ironic that he mentioned every dollar is important, to ensure the corporate makes more that each dollar spent.. so is dividends brining us more profit? Or is it D.W’s way of protecting his personal interest?
Very irresponsible for a pension fund administrator to sell oil company stocks at a historic low.
I wonder how their investors feel about losing billions of dollars from their pensions, just so that the virtue signalling administrators can feel “holier than thou”. After all, the only reason given for selling the shares was climate change. If that’s the case, they should have sold the shares when they were in the $70’-80 range.
More room for retail investors amirite?
Haha, got rid of mine at 88$.
Hats off to LDS they could see the future before many of us do. Oh wow
Behind the times.
The C of JC of LDS sold out 44% of their XOM back in May.
https://markets.businessinsider.com/news/stocks/mormon-church-100-billion-fund-cut-exxon-marriott-wells-fargo-2020-5-1029208392
Didn't know the C of E was more conservative.
You get what you prays for.
Slow actually, recalled the article of insiders selling away our stock? It was an indicator..
We don’t need them. We have all the little old ladies who rely on us for their pension.
Really a very bad week for ExxonMobil this week.
Thanks Rex. This is the root cause.
Investors, please wait! Our plan is to borrow $15B to payout all dividends this year! Next year, we will see if we could still borrow.