I love it. You know why? Exxon will lay off half the employees, cut Capex by 50% and sell half of its assets before it will cut the dividend. I am all in when it gets close to $30. Should happen before Thanksgiving. This is an ego and status power play between Exxon and Chevron as to who will be the first to cut the dividend.
6 replies (most recent on top)
Dividend is done because they will have to borrow money for 3 quarters to pay for it. I still like XOM at $25 in Feb 2021.
Still over valued based on the numbers.. we probably got the same number range since you calculated 30
At least they did it the right way rather than the underhanded, manipulative scheming of xom.
CVX is already cutting 15-20% staff and will have less than 40000 employees by the end of the year.
We are still quite bloated up by comparison.
Playing a losing hand. CVX has half the dividend and twice the balance sheet. We are behaving like id–ts
We will blink first