Exxonmobil Holdings

XOM · NYSE

$177.86−$0.42 (−0.24%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $178.28

XOM analyst rating

BuyConsensus of 20 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy10
Hold10
Underperform0
Sell0

12-month price target · 25 analysts

Average $174.78 (−1.7% downside)

Low: $143.42
Now: $177.86
High: $210.00

Upgrades and downgrades

The latest rating actions, newest first

XOM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 19, 2026	Maintains	Overweight	$177.00 → $200.00	53%
Morgan Stanley	Oct 15, 2026	Maintains	Overweight	$177.00 → $185.00	66%
Wells Fargo	Oct 1, 2026	Downgrade	Overweight → Equal-Weight	$182.00	78%
TD Cowen	Sep 28, 2026	Maintains	Buy	$168.00 → $180.00	70%
Piper Sandler	Sep 3, 2026	Maintains	Neutral	$158.00 → $185.00	75%
Morgan Stanley	Aug 19, 2026	Maintains	Overweight	$168.00 → $177.00	66%
Barclays	Aug 17, 2026	Maintains	Overweight	$182.00 → $177.00	53%
TD Cowen	Aug 7, 2026	Maintains	Buy	$155.00 → $168.00	70%
Freedom Broker	Aug 4, 2026	Upgrade	Sell → Hold	$130.00 → $142.00	75%
B of A Securities	Jul 28, 2026	Downgrade	Buy → Neutral	$154.00 → $158.00	58%

The case for and against

Updated Oct 14, 2026

Bull case

ExxonMobil Holdings is supported by a high-quality portfolio of advantaged upstream assets, including Guyana, the Permian, and LNG, with upstream production guided to about 3% CAGR through 2030 and the Permian alone expected to grow at roughly 9% CAGR. The 2025 completion of 10 major projects, alongside 4.1 million barrels per day of refining capacity and expanding specialty and chemical operations, should improve the mix toward higher-value products and support a steadier earnings profile. Its ~13% net debt to capital, $20B share repurchase program, and disciplined $28-30B 2027-30 capex guide provide flexibility to sustain returns through the cycle while continuing to invest in growth.

Bear case

ExxonMobil Holdings is facing a negative fundamental backdrop because weaker global oil and gas pricing, softer petrochemical margins, and lower refinery utilization can pressure earnings across its upstream, refining, and chemicals businesses. The outlook is further constrained by operational disruption in the Middle East operations, with a full outage in 2Q and only a steady return from 3Q onwards, while the company’s large capital project pipeline creates execution risk through delays or cost overruns. Even with 2025 production of 3.3 million barrels of liquids and 8.4 billion cubic feet of natural gas per day, plus 19.3 billion barrels of oil equivalent in reserves, the likely 11% EPS reduction in 2026e underscores fragile profitability.

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