Exxon Mobil CorporationNYSE: XOM
Energy · Integrated Oil & Gas
$153.41
-0.60%
Vol: 16.6M
Research Digest
Friday, May 1, 2026
Exxon Mobil Q1 earnings down 45% YoY but beat estimates; Iran war disruptions expected to reduce Middle East production by 750K bbl/day if Strait of Hormuz closes
Exxon reported Q1 2026 earnings of $4.2B ($1.00 EPS) beating estimates despite 45% YoY decline. Iran conflict has caused largest oil supply disruption in history. Company warns Middle East production could fall 750K bbl/day in Q2 if Strait of Hormuz closure continues. Golden Pass LNG achieved first production in March. Board unanimously recommended redomiciling from New Jersey to Texas. Stock at $154.33.
Previous Market Intelligence
13 daysApr 30Exxon Mobil to shift domicile to Texas and raises 2030 Plan with $5 billion earnings boostPositive▶
Exxon Mobil's Board unanimously recommended changing the company's legal domicile from New Jersey to Texas, where operations are based. The firm raised its 2030 Plan to deliver $5 billion higher earnings and cash flow with no capital spending increase. ExxonMobil is selling its Hong Kong fuel-station network for $500-600 million with multiple bidders. Q1 2026 earnings report scheduled for May 1 are expected to benefit from higher oil/gas prices, potentially boosting upstream earnings by up to $2.9 billion. Bear case includes ongoing accounting fraud lawsuit over abandoned well cleanup costs.
Apr 29Exxon Mobil Q1 earnings due May 1 with geopolitical tailwinds; Golden Pass LNG ships first cargo April 22Positive▶
Exxon Mobil is set to release Q1 2026 results Friday with expectations boosted by elevated oil prices and Golden Pass LNG first cargo shipment on April 22. TotalEnergies' 29% Q1 adjusted income beat raised expectations for XOM. Company reported strong 2025 with $28.8B earnings and $37.2B shareholder distributions. Strait of Hormuz closure adds supply shock benefit. Stock faces legal challenges but benefits from record production and buybacks.
Apr 16Exxon Mobil lost 6% of global production in Q1 2026 due to Iran war disrupting Middle East operations, but benefits from elevated oil prices and plans $24B deepwater Nigeria investmentMixed▶
Exxon Mobil reported that Middle East conflicts paralyzed operations in the Persian Gulf, cutting 6% of global output in Q1 2026. The Strait of Hormuz closure severely impacted UAE and Qatar operations, which represent 20% of annual production. Despite disruptions, the company benefits from higher oil prices projected to add $1.9-$2.3 billion to Upstream earnings. The board unanimously recommended changing legal domicile from New Jersey to Texas. Exxon announced plans to invest up to $24 billion in long-stalled deepwater oil projects in Nigeria. Earnings scheduled for May 1.
Apr 15Exxon Mobil stock fell 3.24% on April 14 as crude oil prices declined amid Iran peace talk optimism, while company announced $24 billion Nigeria deepwater investmentNegative▶
Exxon Mobil experienced a 3.24% decline on April 14 due to falling crude oil prices from renewed U.S.-Iran peace talk optimism. The company announced $24 billion commitment to two deepwater oil projects off Nigeria. Q1 production challenges with 6% reduction in global output. Board recommended relocating legal domicile from New Jersey to Texas. California sued ExxonMobil for misleading claims about plastic recycling.
Apr 14Exxon Mobil signals $2.9B Q1 earnings boost from higher oil prices; board recommends Texas domicile changeMixed▶
Q1 upstream earnings could rise by up to $2.9B. Board recommends domicile change from NJ to TX. Q1 results May 1. TD Cowen lowered PT to $172, Wolfe to $153.
Apr 13Q1 2026 earnings hit by Middle East conflict with 6% production loss; stock fell 5.94% in after-hoursNegative▶
Exxon Mobil disclosed that Middle East disruptions cut 6% of global Q1 2026 production, with $3.5-4.9B in negative timing impact. Company Qatar LNG facilities suffered Iranian attack damage. Stock plunged to $154.17 in after-hours trading (5.94% drop). Board unanimously recommends shareholders approve relocating legal domicile from New Jersey to Texas. Strong Guyana Stabroek Block growth expected. Q1 earnings scheduled April 24.
Apr 10Exxon loses 6% of global production in Q1 from Iran war disruption but benefits from higher oil/gas prices.Mixed▶
Exxon Mobil lost 6% of global production in Q1 as Iran war paralyzed Persian Gulf operations. Company projects Q1 earnings boost up to $2.9B from higher prices but faces negative timing effects of $3.5-4.9B. Stock trading $155-165 range near all-time highs. XOM plunged 5.94% after-hours April 8 as Iran ceasefire wiped out gains. Wells Fargo raised price target to $185 on April 9.
Apr 9Exxon Mobil stock declines 5.93% as U.S.-Iran ceasefire pressures oil prices despite $2.9B Q1 earnings boostMixed▶
Exxon reported 6% production disruption in Q1 from Middle East assets, offset by higher oil prices potentially boosting upstream earnings by up to $2.9B. U.S.-Iran ceasefire reopens Strait of Hormuz, depressing oil markets. Stock declined sharply but remains up 28.98% year-to-date. Strategic helium production benefits from regional disruptions. UBS raised price target to $171 from $145. Consensus is "Moderate Buy" with average target of $160.95, up 4.64%.
Apr 8UBS raises Exxon price target to $171 amid Middle East helium supply disruptions; XOM up 34% YTD.Positive▶
UBS increased Exxon's price target from $145 to $171, citing Middle East helium supply disruptions. Iran's strikes on Qatar disrupting supply (Qatar produces 31% of global helium); Exxon's Wyoming LaBarge facility produces 20% of world helium. XOM surged 34% YTD but plunged 5% on April 1 when war-ending reports emerged. JV with QatarEnergy commenced LNG production at Golden Pass.
Apr 7ExxonMobil stock up 34% YTD; Golden Pass LNG begins Italy supply June 2026; Q1 earnings estimate $1.80/sharePositive▶
Exxon Mobil stock surged 34% YTD but fell 5% on April 1 (worst single-day drop in over a year) as war-ending reports triggered geopolitical risk unwinding. Current price $163.26 with 680.6B market cap. UBS reiterated Buy with raised PT to $171. Company exiting New Zealand market; Golden Pass LNG JV with QatarEnergy starts Italy supply June 2026, diversifying European exposure. Yellowtail Guyana project came online ahead of schedule; annual upstream production hit ~4.7M BOE/day (highest in 40+ years). Board recommended domicile change from New Jersey to Texas. Q1 earnings report May 1; avg. estimate $1.80/share vs. $1.76 prior year. Raised 2030 Plan with $5B earnings/cash flow growth, +$2B cost savings to $20B total vs. 2019.
Apr 6Exxon rallies 11.3% in March on crude surge; Brent hits $104 after Iran escalation.Positive▶
Exxon stock surged 11.3% in March after US-Israel actions against Iran boosted crude with Brent near $104/barrel (+43% in March). Morgan Stanley and Bernstein maintain Overweight citing FCF and geopolitical insulation. Moved legal domicile from NJ to Texas. Governance concern: algae biofuel project continued despite 2020 internal findings of major hurdles. Trading at $160.69. YTD +31%.
Apr 3Exxon Mobil board unanimously recommends redomiciling from New Jersey to Texas; updated 2030 plan projects $25 billion earnings growth.Positive▶
Exxon Mobil's board unanimously recommended shareholder approval to move the company's legal domicile from New Jersey to Texas. The company raised its 2030 corporate plan, now expecting $25 billion earnings growth and $35 billion cash flow growth with 17%+ return on capital employed. Q4 2025 earnings totaled $6.5 billion ($1.53/share). The Golden Pass LNG project is now operational. Stock is up 33.1% year-to-date; Citi analyst raised price target to $175.
Apr 1Exxon Mobil stock surges 7% on week amid geopolitical tensions and strong energy prices; earnings expected late April.Positive▶
Exxon Mobil shares rose about 7% this week near $171 as energy stocks rallied on escalating U.S.-Israel-Iran geopolitical tensions supporting crude prices. XOM stock is up 39% YTD and at new 52-week highs, benefiting from Brent crude averaging ~$97/barrel in March, up 33% from February. Key developments include ExxonMobil Guyana's award of FEED studies contract to SBM Offshore for the Longtail development FPSO project. The company's joint venture Golden Pass LNG recently commenced production at its Texas facility. ExxonMobil's board unanimously recommends shareholders approve redomiciling from New Jersey to Texas.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| XOMEXXON | $153.41 | -0.60% | -5.5% | 15.2x | 0.29 | $641.5B |
| CVXCHEVRON | $190.83 | -1.28% | -2.8% | 16.5x | 0.59 | $385.1B |
| COPCONOCOPHILLIPS | $123.50 | -1.81% | -4.5% | 14.8x | 0.19 | $153.3B |
| WMBWILLIAMS | $75.66 | -0.85% | +5.1% | 29.4x | 0.65 | $93.3B |
| SLBSLB | $57.00 | +0.20% | +14.3% | 17.0x | 0.69 | $85.1B |
| VLOVALERO | $247.40 | -2.05% | +2.9% | 13.7x | 0.61 | $75.5B |
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