ExxonMobil (XOM) stock opened at $156.88 on August 31, 2026, as Brent crude pushed back above $90 per barrel following fresh US military strikes on Iranian rocket launchers in the Strait of Hormuz.
Oil benchmarks gained more than 2% in early trading after the US confirmed strikes on Iranian positions, with Iran responding with retaliatory action targeting US military sites. The Strait of Hormuz is one of the world’s most important oil transit routes, and any disruption there tends to move energy stocks fast.
The geopolitical flare-up adds a new layer to an already eventful period for XOM. Production at Upper Zakum in the Gulf, where Exxon holds a 28% stake, was already reduced between March and May 2026 due to disrupted export routes.
ExxonMobil reported Q2 2026 EPS of $3.52, missing the consensus estimate of $3.56 by $0.04. Revenue came in at $114.53 billion, ahead of the $109.94 billion analysts had expected.
Year-over-year, the earnings picture looks strong. EPS in Q2 2025 was $1.64, meaning the company more than doubled its per-share profit in a year.
For the next earnings release, analysts are looking for EPS of $3.60, suggesting the Street expects steady performance to continue.
The company’s net margin stood at 8.88% and return on equity at 13.14% for the quarter.
TD Cowen raised its price target on XOM to $168 from $155 on August 7, reiterating a Buy rating. Royal Bank of Canada has a $180 target with a Sector Perform rating. Bank of America moved the other way, downgrading from Buy to Neutral in late July, while lifting its target to $158.
The current analyst consensus is a Hold, with an average price target of $166.10. That puts the stock roughly $9 below the average target at its current opening price.
On the income side, ExxonMobil declared a quarterly dividend of $1.03 per share, equating to $4.12 annually and a 2.6% yield. The dividend is payable September 10 to investors of record as of August 17.
The company has a debt-to-equity ratio of 0.12, a 52-week low of $108.35, and a 52-week high of $176.41. Market cap stands at $650.26 billion.
Van ECK Associates cut its XOM position by 95.4% in Q2, selling 3.79 million shares and retaining 183,518 shares valued at around $25.09 million. Institutional investors as a whole own 61.8% of XOM.
Analysts currently expect full-year EPS of $11.86 for ExxonMobil.
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