XOM Stock Is Up 43% In 2026: Wall Street Is Split On The Oil Major Following Q3 Results

• DZ Bank downgraded Exxon Mobil to ‘Sell’ from ‘Hold’ with a $170 price target on Wednesday. 
• Citi raised the price target on Exxon Mobil to $175 from $155 and maintained a ‘Neutral’ rating on the shares following its Q3 report.
• TD Cowen analyst Jason Gabelman also raised the price target on Exxon Mobil to $193 from $180 and kept a ‘Buy’ rating on the shares. 

Shares of ExxonMobil Corp. (XOM) have had a solid run in 2026, bolstered by rising oil prices amid the U.S.-Iran war and constricted energy supply. 

XOM stock has gained more than 43% this year, putting it on track for its best year since 2022. 

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The oil giant posted its third-quarter results last week, surging past Wall Street expectations. However, analysts have a mixed take on the stock’s future following its Q3 results. 

XOM Stock: Wall Street Stance

According to The Fly, DZ Bank downgraded Exxon Mobil to ‘Sell’ from ‘Hold’ on Wednesday, with a $170 price target. The target implies an upside of about 0.43% from the stock’s last close. 

However, Citi raised the price target on Exxon Mobil to $175 from $155 and maintained a ‘Neutral’ rating on the shares following its Q3 report.

Meanwhile, TD Cowen analyst Jason Gabelman also raised the price target on Exxon Mobil to $193 from $180 and kept a ‘Buy’ rating on the shares. The firm said the company increased LNG project ownership, which should diversify its footprint. 

As per data from Koyfin, the 12-month average price target on XOM stock is $183.67, suggesting an upside of about 8.5% from its last close. 

Of the 26 analysts covering the stock, nine have a ‘Buy’ or higher rating on the stock, while the rest have a ‘Hold’ rating. 

Oil Prices Fall On Democratic Win 

Meanwhile, oil prices have declined after the Democrats made a historic sweep at Congress on Wednesday, capturing a majority in both the House and the Senate. 

Markets expect that the win will likely bring a closure to the U.S.-Iran war that has dragged on since February and pressured oil supplies amidst the closure of the Strait of Hormuz. 

Meanwhile, Axios reported that the Trump Administration and the U.S. Military are preparing for a possible resumption of "major" combat operations in Iran. 

At the time of writing, Brent crude futures were trading at $93.68 a barrel, down about 1%, while WTI crude futures traded 1.46% lower at $86.83 per barrel.

What’s Retail Saying About XOM Stock?

On Stocktwits, retail sentiment around XOM stock was ‘bullish’ at the time of writing. Message volumes increased about 93% over 24 hours, as per platform data. 

One user said, “$XOM up she goes, guess what war is still on.”

XOM stock was gaining marginally overnight at the time of writing. 

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