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Started By
Message
A project for the Money board - old Exxon stock
Posted on 5/10/21 at 12:04 pm
Posted on 5/10/21 at 12:04 pm
Wife’s parent apparently inherited some pretty old Exxon stock but not a whole lot of it. I think ~25 shares. They won’t tell my wife how much it’s worth though and just promised her her third when the time comes. All they will tell her is that the dividend alone from this portion is “significant”.
The wife is very curious if there’s a way to figure out the approximate value (and of course now I’m curious too
).
Her best guesstimate is that the stock was purchased around the late 1960s or early 1970s.
Anyone of you money people know of a way to figure out an approximate value of these 25 shares after this long? Surely there has been some splits along the way - though I think the current number of shares is 25 not the original - I could be wrong though. I told her not to expect to be rich lol!
The wife is very curious if there’s a way to figure out the approximate value (and of course now I’m curious too
). Her best guesstimate is that the stock was purchased around the late 1960s or early 1970s.
Anyone of you money people know of a way to figure out an approximate value of these 25 shares after this long? Surely there has been some splits along the way - though I think the current number of shares is 25 not the original - I could be wrong though. I told her not to expect to be rich lol!
This post was edited on 5/10/21 at 12:07 pm
4
Posted on 5/10/21 at 12:12 pm to TDsngumbo
50 year old stock should be worth a pretty penny
not saying its millions but i would imagine 6 figures before it gets divided up amongst the other heirs
not saying its millions but i would imagine 6 figures before it gets divided up amongst the other heirs
Posted on 5/10/21 at 12:13 pm to TDsngumbo
XOM has split 5 times since the 70's.
Assuming they owned 25 shares before the first split - they may have 800 shares now.
XOM is trading at $63.00 ish today. about $50,400 /3 = $16,800
You aint retiring, baw.
Assuming they owned 25 shares before the first split - they may have 800 shares now.
XOM is trading at $63.00 ish today. about $50,400 /3 = $16,800
You aint retiring, baw.
This post was edited on 5/10/21 at 12:14 pm
Posted on 5/10/21 at 12:13 pm to TDsngumbo
It's worth the price when she inherits it. Stepped up basis.
Posted on 5/10/21 at 12:18 pm to TDsngumbo
If the current number of shares is 25 as you say, it is worth $1,584 (25 x $63.37).
It sounds like you may be wrong though about the CURRENT number of shares based on the rest of your comments. Obviously, you need to know if the number IS or WAS 25 shares. Also, were dividends reinvested through a DRIP program. If so, you would have many more shares than 25 after 50+ years of reinvestment and splits.
In short, no way to accurately answer this question based on what you know at this time.
It sounds like you may be wrong though about the CURRENT number of shares based on the rest of your comments. Obviously, you need to know if the number IS or WAS 25 shares. Also, were dividends reinvested through a DRIP program. If so, you would have many more shares than 25 after 50+ years of reinvestment and splits.
In short, no way to accurately answer this question based on what you know at this time.
Posted on 5/10/21 at 12:21 pm to Dusty Bottoms
quote:
ere dividends reinvested through a DRIP program
Good point about the DRIP
Posted on 5/10/21 at 12:44 pm to LazloHollyfeld
What’s DRIP, dividend reinvestment? Because I’m almost 100% sure they had it set up to reinvest dividends from the beginning. Her family is pretty smart when it comes to money.
Posted on 5/10/21 at 12:51 pm to TDsngumbo
Yes, dividends are automatically used to buy more shares.
Posted on 5/10/21 at 1:03 pm to TDsngumbo
With dividend reinvestment, proceeds from quarterly dividends are used to purchase more shares or partial shares of stock. More shares produces more dividends, and that's how it grows quickly (relatively speaking). Add to that that Exxon has increased its dividends pretty regularly over the years, and as already mentioned, the stock has also split multiple times. It could be a pretty nice pay day if that has been happening since the 60's.
Just using a really rough 10% annual compounding rate, 25 shares in 1970 could be worth $200,000 now.
Just using a really rough 10% annual compounding rate, 25 shares in 1970 could be worth $200,000 now.
This post was edited on 5/10/21 at 1:11 pm
Posted on 5/10/21 at 1:38 pm to TDsngumbo
You should be able to pull dividend history and stock split history online.
Set up an excel spreadsheet and just work through it. That will give you number of shares outstanding. Take that, divide by 3, times current share price = her amount.
It's interesting how families act with money. You say they are smart financially but they don't want to tell her how many shares the parents inherited from the grands. Part of smart financial planning is being open and honest with your heirs, especially adult heirs.
Set up an excel spreadsheet and just work through it. That will give you number of shares outstanding. Take that, divide by 3, times current share price = her amount.
It's interesting how families act with money. You say they are smart financially but they don't want to tell her how many shares the parents inherited from the grands. Part of smart financial planning is being open and honest with your heirs, especially adult heirs.
Posted on 5/10/21 at 1:43 pm to LSUFanHouston
quote:
It's interesting how families act with money. You say they are smart financially but they don't want to tell her how many shares the parents inherited from the grands. Part of smart financial planning is being open and honest with your heirs, especially adult heirs.
They’re just being childish and petty. We just bought a new vehicle and they asked how much we paid. I think that’s tacky as frick so we didn’t tell them. Then later on they mentioned the stock situation and when my wife asked about it, they said they wouldn’t tell how much it is if we wouldn’t tell what we paid for our vehicle
Fair enough. Petty, but fair enough.
Posted on 5/10/21 at 1:49 pm to TDsngumbo
quote:
Fair enough. Petty, but fair enough.
I wouldn't say "fair enough" to that. Your wife has a legitimate financial stake in the stock. Your inlaws have zero financial stake in your vehicle.
Posted on 5/10/21 at 1:52 pm to Mingo Was His NameO
quote:
It's worth the price when she inherits it. Stepped up basis.
For now.
Posted on 5/10/21 at 1:57 pm to Chucktown_Badger
quote:
I wouldn't say "fair enough" to that. Your wife has a legitimate financial stake in the stock. Your inlaws have zero financial stake in your vehicle.
100% agree but eventually we’ll find out how much it is
. For now it doesn’t matter how much it’s worth because it’s not my wife’s. Once it becomes my wife’s money, it’ll be out in the open anyway.
Posted on 5/10/21 at 2:05 pm to TDsngumbo
quote:
Then later on they mentioned the stock situation and when my wife asked about it, they said they wouldn’t tell how much it is if we wouldn’t tell what we paid for our vehicle
Damn. I mean, I shouldn't be laughing as hard as I am right now!
Posted on 5/10/21 at 2:25 pm to TDsngumbo
quote:
They’re just being childish and petty. We just bought a new vehicle and they asked how much we paid. I think that’s tacky as frick so we didn’t tell them.
This is usually MUCH easier to ballpark than a vague value of ~25 shares of “old” stock.
There’s calculators online that will give you the dividend history along with reinvestment and current value.
Posted on 5/10/21 at 2:30 pm to TDsngumbo
quote:
Her family is pretty smart when it comes to money.
Now your OT post about them asking what you paid for your frivolous luxury vehicle purchase this past week makes much more sense...
If they tell you the exact value, they know you will go out and buy a boat next.
Posted on 5/10/21 at 2:30 pm to Chucktown_Badger
(no message)
This post was edited on 7/25/22 at 4:47 pm
Posted on 5/10/21 at 3:48 pm to TigerIron
A more fun project is figuring the value of pre-divesture T if you didn't sell any of the Baby Bells, held through all the splits, mergers, spin-offs, and bankruptcies. That's a project.
Posted on 5/10/21 at 5:01 pm to NewBR
My parents have XOM shares my grandfather purchased as an employee starting back in the late 40s, early 50s. As I help my parents with their finances, to my knowledge there are no records of a cost basis. These shares were not inherited and so the cost basis was not reset upon transferal. Assuming I inherit shares I may not easily be able to sell them due to no data to confirm a cost basis if Joe Biden gets his way. I'm sure I could get with the IRS and a forensic accountant to try to come up with an acceptable basis, but talk about a nightmare.
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