Despite higher than expected revenue from the surge in prices ($140/bbl), earnings were well short of expectations once again. Spending is up 50%. Permian production bumped up almost as promised, but the rest of the world down due to lost concessions. International downstream lost a fortune. Again! The stock may sag further.
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Stock dipped today on the bad news.
Highest earnings in a decade and enough free cashflow to choke a horse. PE and EV/DACF multiple is higher than any other company in the oil and gas sector. Warren Buffet backing up the pickup truck to buy, buy, buy.
If OP and the rest of you were such financial geniuses you wouldn’t be spending time showing your ignorance on a chat board. You’d be counting your money on your yacht.
Our only performance was due to price, we didn’t move the needle otherwise. Spending on renewables is up but is terrible for earnings.
@yol, this is what happens when your company has no coherent growth strategy. Just think what it would have been had oil been only $80, which is the long-term likely price. MW and SR are committed to trendy D&I, the dividend, and stock buy-backs, not the long-term future of the company. All the executive management only has a few years to go to retirement, they'll leave the problems to their understudies.
We faster we run, the more we stay in one place.
Am I at the Layoff board???