ExxonMobil (XOM) climbed roughly 1.5% on Wednesday, with the stock trading at $153.52. That move came despite S&P 500 futures slipping about 0.3%, making XOM’s gain stand out.
The stock is up 27.9% year-to-date, and investors are now focused on what the Q2 earnings report will show.
ExxonMobil confirmed Tuesday it will release second-quarter 2026 results on Friday, July 31.
Wall Street is expecting EPS of $3.76 for Q2, a big jump from $1.64 in the same quarter last year. Revenue is projected at $101 billion, compared to $81.51 billion a year ago.
In a recent filing, ExxonMobil said higher liquids prices are expected to lift upstream earnings by $3.5 billion to $3.9 billion from Q1 levels. The Chemical Products segment is also expected to add $1.0 billion to $1.2 billion in sequential earnings improvement.
Natural gas price changes are expected to have a relatively neutral impact, ranging from a $0.2 billion headwind to a $0.2 billion benefit.
The company did flag one drag. War-related disruptions are expected to cut upstream earnings by $0.6 billion to $0.8 billion, and Energy Products earnings by $0.2 billion to $0.4 billion.
XOM is now challenging descending resistance within a falling wedge pattern. A close above that level would also push the stock above its 100-day moving average for the first time since early June.
The RSI sits around 69, near overbought territory. The MACD shows a bullish crossover, and the 10-day rate of change is at 8.8%. XOM trades about 8.7% above its 20-day moving average of $141.00 and 11.5% above its 200-day moving average of $137.44.
Key resistance sits at $155.50. Support is at $144.50.
The stock carries a consensus Buy rating. Recent analyst moves show some trimmed targets but maintained ratings.
Mizuho held Neutral and cut its target to $170 on July 9. TD Cowen kept Buy and lowered its target to $155 on July 2. Morgan Stanley maintained Overweight with a revised target of $168 on June 29.
The average analyst price target sits at $170.59, roughly 11% above current levels.
ExxonMobil produced 3.3 million barrels of liquids per day in 2025, alongside 8.4 billion cubic feet of natural gas daily. Proved reserves stood at 19.3 billion barrels of oil equivalent at year-end 2025.
The stock trades at roughly 25.5 times earnings.
XOM is a major holding in 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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