Key Takeaways
- Shares gained approximately 1.5% Wednesday, closing at $153.52 with a 27.9% year-to-date advance
- Second-quarter earnings scheduled for release Friday, July 31
- Upstream segment earnings projected to increase $3.5Bā$3.9B quarter-over-quarter due to elevated liquids pricing
- Consensus analyst estimates point to Q2 EPS of $3.76 versus $1.64 in the prior-year period; revenue expected at $101B
- Wall Street maintains a Buy consensus with a mean price objective of $170.59
Shares of ExxonMobil (XOM) advanced approximately 1.5% during Wednesday’s trading session, reaching $153.52. The energy giant’s gains came as broader market sentiment weakened, with S&P 500 futures declining roughly 0.3%.
With a year-to-date gain of 27.9%, market participants are now turning their attention to the company’s upcoming quarterly financial disclosure.
The oil and gas producer announced Tuesday that it will publish its second-quarter 2026 financial results on Friday, July 31.
Analysts surveyed by Wall Street consensus services anticipate earnings per share of $3.76 for the second quarter, representing substantial growth from the $1.64 reported in the corresponding quarter of the previous year. Top-line revenue is forecast to reach $101 billion versus $81.51 billion year-over-year.
According to a recent regulatory filing, ExxonMobil anticipates that improved liquids pricing will contribute between $3.5 billion and $3.9 billion to upstream segment earnings compared to first-quarter levels. Additionally, the Chemical Products division is projected to deliver a sequential earnings improvement ranging from $1.0 billion to $1.2 billion.
Changes in natural gas pricing are anticipated to have minimal impact, with effects ranging from a negative $0.2 billion to a positive $0.2 billion.
However, the company noted one significant headwind. Conflict-related operational disruptions are projected to reduce upstream earnings by $0.6 billion to $0.8 billion, while Energy Products segment earnings could decline by $0.2 billion to $0.4 billion.
Chart Analysis Suggests Potential Breakout
The stock is currently testing descending resistance within a falling wedge formation. A decisive close above this technical level would simultaneously position XOM above its 100-day moving average for the first time since early June.
The Relative Strength Index registers approximately 69, approaching overbought conditions. The MACD indicator displays a bullish crossover signal, while the 10-day rate of change measures 8.8%. Current pricing stands roughly 8.7% above the 20-day moving average of $141.00 and 11.5% above the 200-day moving average of $137.44.
Critical resistance is identified at $155.50, with support established at $144.50.
Wall Street Coverage and Price Objectives
The energy stock holds a consensus Buy recommendation across the analyst community. Recent coverage adjustments have included modest target reductions while maintaining positive ratings.
Mizuho maintained its Neutral stance while reducing its price target to $170 on July 9. TD Cowen reaffirmed its Buy rating and adjusted its target downward to $155 on July 2. Morgan Stanley sustained an Overweight recommendation with a modified target of $168 on June 29.
The consensus analyst price objective stands at $170.59, representing approximately 11% upside from current trading levels.
ExxonMobil generated 3.3 million barrels of liquids daily in 2025, complemented by 8.4 billion cubic feet of natural gas production per day. The company’s proved reserves totaled 19.3 billion barrels of oil equivalent as of year-end 2025.
Current valuation metrics place the stock at approximately 25.5 times trailing earnings.
XOM represents a significant portfolio component in several exchange-traded funds, including a 7.17% position in the iShares Core High Dividend ETF (HDV), a 9.98% weighting in the First Trust Morningstar Dividend Leaders Index Fund (FDL), and a 9.11% allocation in the SPDR S&P North American Natural Resources ETF (NANR).
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