ExxonMobil
What matters nowUpdated 6 h ago
- On October 1, 2026, Wells Fargo cut ExxonMobil to Equal Weight from Overweight with a $182 price target and upgraded BP to Overweight; the broker-moves report reads as a relative preference between two majors 1.
- XOM was at $174.59 on a pooled 24/7 venue price on October 13, up 1.53% from the $171.96 previous close, after its largest recent fall of -3.39% on September 16 (z-score -2.59), for which the Venezuela re-entry talks 2 and the Pioneer tender results 3 are the candidate causes.
- Operationally, the Stabroek block in Guyana passed 1 billion barrels of cumulative output on September 28, with installed capacity above 900,000 barrels per day 4, and ExxonMobil signed a 50/50 production-sharing agreement with SOCAR in Azerbaijan on September 26, operating the Middle Kura Basin project 5.
- On trailing twelve-month figures to June 30, 2026, revenue was $368.8 billion (up 9.1% year on year), EPS was $7.78 (up 10.5%), the net margin was 8.9% and the FCF margin 8.3%; the stock trades at 22.4 times earnings, 1.95 times sales and a 4.26% FCF yield on a $717.9 billion market cap, and no insider trades were recorded in the last 180 days.
- Next, Q3 2026 results are expected on October 30, 2026 (unconfirmed), Guyana's fifth FPSO is targeted for 4Q26 and Golden Pass LNG Train 2 for 2H26, and US CPI for September is due October 14; Polymarket puts an 81.5% chance on no Fed rate change at the October 2026 meeting and 17.5% on a 25 bp increase.
Newsquawk · Oct 1
Bloomberg Tax · Sep 16
ExxonMobil Investor Relations · Sep 15
ExxonMobil Guyana Newsroom · Sep 28
Trend News Agency · Sep 26
ExxonMobil is one of the largest integrated oil and gas companies. It explores for and produces crude oil and natural gas, refines and markets fuels, makes petrochemicals and specialty products, and is building lower-carbon businesses such as carbon capture, hydrogen and ammonia, and lithium. The company was incorporated in New Jersey in 1882 and completed a redomiciliation to Texas on July 1, 2026, when ExxonMobil Holdings Corporation became the listed parent (predecessor: Exxon Mobil Corporation, CIK 34088).
How it makes money
Earns money by producing crude oil and natural gas (Upstream), then refining and selling fuels (Energy Products), making chemicals (Chemical Products) and specialty products such as lubricants (Specialty Products). Upstream carries the most earnings, with the Permian Basin and Guyana as the main growth engines. Profits swing with crude, gas and refining margins, and the company returns cash through dividends and buybacks (USD 37.2 billion distributed in 2025).
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Permian Basin
Record output in Q2 2026, above 1.8 million oil-equivalent barrels per day, with a planned 9% CAGR through 2030.
Guyana (Stabroek block)
Production above 700,000 barrels per day gross in 2025, with a fifth FPSO sailing for 4Q26 startup.
Next: Fifth FPSO production startup · 2026-10-01
Energy Products (refining and fuels)
Q2 2026 U.S. GAAP earnings USD 5,465 million on sales of 5.7 million barrels per day, with record diesel output.
Chemical Products
Q2 2026 U.S. GAAP earnings USD 1,131 million, up from USD 110 million adjusted in Q1 2026 as chemical margins recovered.
Latest newsAll news →
Wells Fargo cuts ExxonMobil to Equal Weight and upgrades BP to Overweight
Wells Fargo lowered ExxonMobil to Equal Weight from Overweight on October 1, 2026, with a $182 price target.
Stabroek block in Guyana passes 1 billion barrels of cumulative output
ExxonMobil said its partners have produced 1 billion barrels of oil from the Stabroek block, less than seven years after first production in December 2019.
ExxonMobil and SOCAR sign 50/50 production-sharing deal in Azerbaijan
ExxonMobil and Azerbaijan's state energy company SOCAR signed a production-sharing agreement for exploration, development and production of unconventional oil and gas in the Middle Kura Basin.
ExxonMobil holds talks with Venezuela on re-entering heavy-oil fields
Bloomberg reported that ExxonMobil representatives went to Caracas to negotiate a return to Venezuela, seeking access to several heavy-oil fields.
Pioneer tender offers accept about $1.19 billion of 2030 and 2031 notes
Accepted tenders totaled $570.4 million of the 2030 notes at $888.49 per $1,000 principal and $615.6 million of the 2031 notes at $885.66 per $1,000 principal.
Pioneer subsidiary launches tender offers for $2.1 billion of 2030 and 2031 notes
ExxonMobil's subsidiary Pioneer Natural Resources Company offered to buy for cash any and all of its $1.1 billion 2030 1.900% notes and $1.0 billion 2031 2.150% notes.
Products & businesses
Permian Basin
Record output in Q2 2026, above 1.8 million oil-equivalent barrels per day, with a planned 9% CAGR through 2030.
Guyana (Stabroek block)
Production above 700,000 barrels per day gross in 2025, with a fifth FPSO sailing for 4Q26 startup.
Next: Fifth FPSO production startup · 2026-10-01
Energy Products (refining and fuels)
Q2 2026 U.S. GAAP earnings USD 5,465 million on sales of 5.7 million barrels per day, with record diesel output.
Chemical Products
Q2 2026 U.S. GAAP earnings USD 1,131 million, up from USD 110 million adjusted in Q1 2026 as chemical margins recovered.
Specialty Products
Q2 2026 U.S. GAAP earnings USD 956 million on sales of 1.8 million metric tons.
Golden Pass LNG
Train 1 is exporting since April 2026, with Train 2 targeted for 2H26 and Train 3 for 1H27. ExxonMobil holds 30%, QatarEnergy 70%.
Next: Train 2 start-up · 2026-07-01
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Upstream Exploration and production of crude oil and natural gas, including the Permian Basin in the US and the Stabroek block offshore Guyana. 2025 U.S. GAAP segment earnings were USD 21,354 million. | — | — | |
| Energy Products Refining crude oil into fuels and other petroleum products and marketing them. 2025 U.S. GAAP segment earnings were USD 7,423 million. | — | — | |
| Chemical Products Manufacture and sale of petrochemicals such as olefins, polyolefins and aromatics. 2025 U.S. GAAP segment earnings were USD 800 million, a year when weak chemical margins were a drag. | — | — | |
| Specialty Products Higher-value products such as lubricants, specialty elastomers and plastics and base stocks. 2025 U.S. GAAP segment earnings were USD 2,857 million. | — | — |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $368.76B | $116.02B +42% | $85.14B +2% | $82.31Bd -1% | $85.29B -5% | $81.51B -12% | $83.13B +0% | $83.43Bd -1% | $90.02B -1% |
| Net income | $32.76B | $14.53B +105% | $4.18B -46% | $6.50Bd -15% | $7.55B -12% | $7.08B -23% | $7.71B -6% | $7.61Bd -0% | $8.61B -5% |
| EPS (diluted) | $7.78 | $3.48 +112% | $1.00 -43% | $1.54d -10% | $1.76 -8% | $1.64 -23% | $1.76 -15% | $1.72d -10% | $1.92 -15% |
| Operating cash flow | $59.73B | $23.55Bd +104% | $8.71B -33% | $12.68Bd +4% | $14.79Bd -16% | $11.55Bd +9% | $12.95B -12% | $12.23Bd -11% | $17.57Bd +10% |
| Capital expenditure | $29.17B | $6.53Bd +4% | $6.47B +10% | $7.45Bd +9% | $8.73Bd +42% | $6.28Bd +1% | $5.90B +16% | $6.84Bd +10% | $6.16Bd +25% |
| Share buybacks | $20.51B | $5.14Bd +4% | $4.87B +1% | $5.38Bd -7% | $5.13Bd -7% | $4.96Bd -7% | $4.80B +60% | $5.78Bd +24% | $5.51Bd +25% |
| Cash & equivalents | $10.59B | $10.59B | $8.44B | $10.68B | $13.81B | $14.35B | $17.04B | $23.03B | $26.93B |
| Shares outstanding | 4.11B | 4.11B | 4.14B | 4.18B | 4.22B | 4.26B | 4.31B | 4.35B | 4.39B |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $332.24B -5% | $349.58B +1% | $344.58B -17% | $413.68B |
| Research & development | $1.20B +20% | $1.00B +11% | $900.0M +9% | $824.0M |
| Depreciation & amortization | $25.99B +11% | $23.44B +14% | $20.64B -14% | $24.04B |
| Interest expense | $603.0M -39% | $996.0M +17% | $849.0M +6% | $798.0M |
| Income tax | $11.50B -17% | $13.81B -10% | $15.43B -24% | $20.18B |
| Net income | $28.84B -14% | $33.68B -6% | $36.01B -35% | $55.74B |
| EPS (diluted) | $6.70 -15% | $7.84 -12% | $8.89 -33% | $13.26 |
| Dividends per share | $4.00 +4% | $3.84 +4% | $3.68 +4% | $3.55 |
| Operating cash flow | $51.97B -6% | $55.02B -1% | $55.37B -28% | $76.80B |
| Capital expenditure | $28.36B +17% | $24.31B +11% | $21.92B +19% | $18.41B |
| Share buybacks | $20.27B +3% | $19.63B +11% | $17.75B +17% | $15.15B |
| Dividends paid | $17.23B +3% | $16.70B +12% | $14.94B +0% | $14.94B |
| Cash & equivalents | $10.68B | $23.03B | $31.54B | $29.64B |
| Total assets | $448.98B | $453.48B | $376.32B | $369.07B |
| Total liabilities | $182.35B | $182.87B | $163.78B | $166.59B |
| Shareholders' equity | $259.39B | $263.70B | $204.80B | $195.05B |
| Shares outstanding | 4.18B | 4.35B | 3.97B | 4.08B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Wells Fargo cuts ExxonMobil to Equal Weight and upgrades BP to Overweight
Wells Fargo lowered ExxonMobil to Equal Weight from Overweight on October 1, 2026, with a $182 price target.
Stabroek block in Guyana passes 1 billion barrels of cumulative output
ExxonMobil said its partners have produced 1 billion barrels of oil from the Stabroek block, less than seven years after first production in December 2019.
ExxonMobil and SOCAR sign 50/50 production-sharing deal in Azerbaijan
ExxonMobil and Azerbaijan's state energy company SOCAR signed a production-sharing agreement for exploration, development and production of unconventional oil and gas in the Middle Kura Basin.
ExxonMobil holds talks with Venezuela on re-entering heavy-oil fields
Bloomberg reported that ExxonMobil representatives went to Caracas to negotiate a return to Venezuela, seeking access to several heavy-oil fields.
Pioneer tender offers accept about $1.19 billion of 2030 and 2031 notes
Accepted tenders totaled $570.4 million of the 2030 notes at $888.49 per $1,000 principal and $615.6 million of the 2031 notes at $885.66 per $1,000 principal.
Pioneer subsidiary launches tender offers for $2.1 billion of 2030 and 2031 notes
ExxonMobil's subsidiary Pioneer Natural Resources Company offered to buy for cash any and all of its $1.1 billion 2030 1.900% notes and $1.0 billion 2031 2.150% notes.
TotalEnergies hands Papua LNG operatorship to ExxonMobil
TotalEnergies is transferring operatorship of Papua LNG to ExxonMobil, which already runs the neighboring PNG LNG plant, to capture construction and operating synergies.
ExxonMobil CFO Neil Hansen to speak at Barclays energy conference on Sept 9
ExxonMobil said CFO Neil Hansen would hold a fireside chat at Barclays' 40th Annual Energy-Power Conference in New York on September 9, 2026.
Fifth Guyana FPSO Errea Wittu reaches Guyanese waters
The Errea Wittu, the fifth floating production vessel for ExxonMobil's Uaru project offshore Guyana, was reported in Guyanese waters on August 20, based on vessel-tracking data.
Rovuma LNG partners award about $1.1 billion in pre-FID contracts
ExxonMobil Mozambique, on behalf of the Area 4 partners, awarded about $1.1 billion of pre-investment contracts for long-lead equipment for Rovuma LNG Phase 1 in Cabo Delgado.
ExxonMobil reports $14.5 billion Q2 profit, $3.48 per share, record Permian output
ExxonMobil reported second-quarter 2026 GAAP net income of $14.5 billion, or $3.48 per share, and adjusted earnings of $14.7 billion, or $3.52 per share, against $4.2 billion in the first quarter.
Bank of America downgrades ExxonMobil to Neutral, raises target to $158
BofA Securities cut its rating on ExxonMobil to Neutral from Buy and lifted its price target to $158 from $154.
ExxonMobil schedules second-quarter 2026 results for July 31
ExxonMobil said on July 21 that it would release second-quarter 2026 results on Friday, July 31, with the press release at 5:30 a.m.
ExxonMobil flags Middle East and liquids effects in 2Q26 earnings preview
ExxonMobil's July 7 earnings considerations filing gave ranges for the market and operational effects on second-quarter 2026 results.
ExxonMobil sets July 1 as planned effective date for Texas move
On June 22, 2026, ExxonMobil said its redomiciliation from New Jersey to Texas was expected to take effect July 1, 2026.
ExxonMobil to speak at Bernstein Strategic Decisions Conference
ExxonMobil said senior vice president Neil Chapman would hold a fireside chat at the Bernstein 42nd Annual Strategic Decisions Conference in New York on May 28, 2026, at 9:00 a.m.
Guyana output sets a quarterly record above 900,000 barrels a day
ExxonMobil said Guyana set a new quarterly production record of more than 900,000 gross barrels of oil per day in the first quarter of 2026.
ExxonMobil reports fiscal Q1 2026 results: revenue $85.14B, up 2% from a year earlier
ExxonMobil filed a Form 8-K with the SEC on May 1, 2026, 6:31 AM ET, reporting an event dated May 1, 2026.
ExxonMobil sets May 1 date for first-quarter 2026 results
ExxonMobil said it would release first-quarter 2026 financial results on Friday, May 1, 2026.
ExxonMobil flags Middle East hit: Q1 output down about 6% from Q4
In an April 8 SEC filing, ExxonMobil said Middle East disruptions would lower its global oil-equivalent production by about 6% in the first quarter compared with the fourth quarter of 2025.
Golden Pass LNG produces first LNG from Train 1 in Texas
Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, said it had produced its first LNG from Train 1 at its Sabine Pass terminal in Texas.
Hormuz disruption lifts ExxonMobil's market value to a record $643 billion
Oil spiked to about $100 a barrel as the Iran war left the Strait of Hormuz largely disrupted, according to Fortune.
ExxonMobil board unanimously backs moving legal home to Texas
ExxonMobil's board unanimously recommended redomiciling the company from New Jersey to Texas.
ExxonMobil to speak at Morgan Stanley Energy & Power Conference
ExxonMobil said senior vice president Jack Williams would hold a fireside chat at the Morgan Stanley Energy & Power Conference in New York on March 3, 2026, at 11:00 a.m.
Neil Hansen becomes ExxonMobil CFO as Kathryn Mikells retires
Neil Hansen took over as ExxonMobil's senior vice president and chief financial officer effective February 1, 2026.
ExxonMobil plans $27-29 billion of 2026 capex and $20 billion of buybacks
In the same January 30 release, ExxonMobil set its 2026 cash capital expenditure plan at $27 billion to $29 billion, compared with $29.0 billion spent in 2025.
ExxonMobil sets January 30 date for fourth-quarter 2025 results
ExxonMobil said it would release fourth-quarter 2025 financial results on Friday, January 30, 2026.
ExxonMobil reports fiscal Q3 2025 results: revenue $85.29B, down 5% from a year earlier
ExxonMobil filed a Form 8-K with the SEC on Oct 31, 2025, 6:31 AM ET, reporting an event dated Oct 31, 2025.
SEC filings
| Sep 25, 26 | 8-K | 8-K: Other Events (Item 8.01) | sec.gov ↗ |
| Sep 25, 26 | SD | SD: Specialized disclosure (conflict minerals) | sec.gov ↗ |
| Sep 24, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Sep 23, 26 | FWP | FWP: Free writing prospectus | sec.gov ↗ |
| Sep 23, 26 | FWP | FWP: Free writing prospectus | sec.gov ↗ |
| Sep 21, 26 | 424B3 | 424B3: Filing | sec.gov ↗ |
| Aug 28, 26 | 8-K | 8-K: Other Events (Item 8.01) | sec.gov ↗ |
| Aug 7, 26 | SCHEDULE 13G | SCHEDULE 13G: Passive ownership report (5%+) | sec.gov ↗ |
| Aug 3, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Jul 31, 26 | 8-K | 8-K: Results of Operations, Regulation FD Disclosure (Items 2.02, 7.01) | sec.gov ↗ |
| Jul 7, 26 | 8-K | 8-K: Regulation FD Disclosure (Item 7.01) | sec.gov ↗ |
| Jul 6, 26 | 3 | Form 3: Initial insider ownership statement | sec.gov ↗ |
| Jul 2, 26 | 25-NSE | 25-NSE: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
| Jul 1, 26 | S-8 POS | S-8 POS: Filing | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-03-16 | Talley Darrin L VP - Corp Strategic Planning | Sale | 1.1K | $155.50 | $167.9K |
| 2026-03-02 | Talley Darrin L VP - Corp Strategic Planning | Sale | 2.1K | $157.82 | $339.3K |
| 2026-02-09 | Talley Darrin L VP - Corp Strategic Planning | Sale | 3.2K | $149.18 | $481.8K |
| 2026-02-02 | Talley Darrin L VP - Corp Strategic Planning | Sale | 5.0K | $139.75 | $698.8K |