Ride the ship to the bottom or get out now? When our stock is barely 1/3 of the value it was 6 years ago and it’s been overtaking by all these alternate fuels companies. Do you really believe Exxonmobil is ever going to reach $60/share? Our senior management bought Millions of dollars of shares, not because they believe in a come back, but because they were averaging down on their losses.
Look up averaging down.
From an employee perspective the smart thing is definitely to be planning your exit strategy. That's what I'm doing and many others I know. We will be regrettable losses based on our current ranking. The ranking hasn't always been good to me. I'm currently doing well but know based on past experience that can all change when I get a new role or manager. I suspect many on this board have had similar experiences. When I hired on I was proud to be working for ExxonMobil. We had the best benefits, the best pay, the best you name it. It was not only fun but a source of pride to be here. That has all changed. This isn't a 2020 COVID change. We have slowly as employees been given changes that if they had happened all at once would have resulted in a mass exodus. Because they have happened slowly over time many haven't even noticed they are happening. The company is sinking. The industry is in trouble. Look around. You may have to move. You may have to take a temporary pay cut. Ask yourself though if you extrapolate out five, ten, fifteen, twenty years from now where you will be at ExxonMobil (no raises, no savings plan match, etc.) vs where you could be at a company with real opportunities in a growing rather than declining industry.
I don’t understand the focus on any specific price. The question is whether you can do better than the broader market. I doubt it. You minimize risk by being diversified.
Dream on Darren. Dream on!
When oil hits 60, xom will be $60/sh or more. XOM will be more profitable than last time oil was at $60. Dividend is VERY SAFE at $60/B with lower $3G lower OPEX and FEWER PEOPLE and CAPEX at $19 Billion. With oil at $60/B, XOM can earn $25 G per year or around $6/sh. at 15 P/E that is a $90/sh stock. Oil at 50 takes $4G off earnings and that is a $75 stock price, ALL ASSUMING refinery and chem margins return to normal (Which they should because lots of refineries are shutting down).