Key Highlights Shares gained approximately 1.5% Wednesday, closing at $153.52 with a 27.9% year-to-date advance Second-quarter earnings announcement scheduled for Friday, July 31 Upstream seg
Shares of ExxonMobil (XOM) advanced approximately 1.5% during Wednesday’s session, reaching $153.52. The energy stock’s performance proved particularly noteworthy given that S&P 500 futures declined roughly 0.3% on the same day.
With a year-to-date gain of 27.9%, market participants are turning their attention to the company’s upcoming quarterly financial results.
The oil and gas giant announced Tuesday that it plans to unveil its second-quarter 2026 financial results on Friday, July 31.
Analyst consensus points to earnings per share of $3.76 for the quarter, representing substantial growth from the $1.64 reported in the year-ago period. Revenue estimates stand at $101 billion, up significantly from $81.51 billion twelve months earlier.
According to a recent regulatory filing, ExxonMobil anticipates that improved liquids pricing will contribute between $3.5 billion and $3.9 billion to upstream earnings on a sequential basis. Additionally, the Chemical Products division is projected to deliver $1.0 billion to $1.2 billion in quarter-over-quarter earnings growth.
Natural gas pricing shifts 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 challenges are forecast to reduce upstream earnings by $0.6 billion to $0.8 billion, while Energy Products earnings face a $0.2 billion to $0.4 billion impact.
The stock is currently testing descending resistance within a falling wedge formation. Breaking above this level would also mark the first close above the 100-day moving average since early June.
The Relative Strength Index registers around 69, approaching overbought conditions. The MACD indicator displays a bullish crossover, while the 10-day rate of change stands at 8.8%. XOM currently trades approximately 8.7% above its 20-day moving average of $141.00 and 11.5% above its 200-day moving average of $137.44.
Critical resistance lies at $155.50. The stock finds support at $144.50.
Analysts maintain a consensus Buy recommendation on the shares. Recent rating activity reflects some target adjustments while preserving overall positive outlooks.
On July 9, Mizuho maintained its Neutral stance while reducing its price target to $170. TD Cowen reaffirmed its Buy rating on July 2 but lowered its target to $155. Morgan Stanley kept its Overweight rating on June 29 with an adjusted target of $168.
The consensus analyst price target stands at $170.59, representing approximately 11% upside from current trading levels.
ExxonMobil achieved daily production of 3.3 million barrels of liquids in 2025, complemented by 8.4 billion cubic feet of natural gas output. The company reported proved reserves of 19.3 billion barrels of oil equivalent as of year-end 2025.
The shares currently trade at approximately 25.5 times earnings.
XOM represents a significant position in several exchange-traded funds, including the iShares Core High Dividend ETF (HDV) at 7.17%, the First Trust Morningstar Dividend Leaders Index Fund (FDL) at 9.98%, and the SPDR S&P North American Natural Resources ETF (NANR) at 9.11%.
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