Is XOM buying back shares in part to “hide” profits and not fully share with employees or increased dividends to share holders many of which are XOM employees and retirees? Or are they banking stock for a future large acquisition or merger.
https://www.marketwatch.com/articles/exxon-mobil-stock-price-buybacks-51670504609?mod=mw_quote_news
Maybe they could have invested some of this money on people and not had all the experience and knowledge leave or retire earlier than planned over the last 2 years. The company always talks about employees being the biggest asset and competitive advantage and playing the long game but this is only smoke and mirrors in the new XOM. The new company is nothing but bean counters and lawyers playing 3 card monte.
Don’t even get me started on all these waisted money over the years…Russia, XTO, Spring Campus….which management has never been held accountable.