Mizuho Reiterates Neutral Rating on ExxonMobil (XOM)

Mizuho analyst Nitin Kumar reiterated a Neutral rating and $170.00 price target on ExxonMobil (NYSE: XOM).

The analyst commented: "XOM delivered relatively in-line adjusted EPS of $3.52 (excluding timing effects and identified items), but CFPS beat MSUSA/Street expectations by ~15%. Total global production came in ~7% above estimates with non-Middle East assets accounting for ~4.1 mmboe/d. This was headlined by ~1.8 mmboe/d of production in the Permian - on pace for ~9% CAGR by 2030. Fifth Guyana FPSO en route with production start-up on track for 4Q26 (+250 kb/d) even as entitlement volumes drop in 3Q26 (under PSC terms). Net Debt was reduced by ~$7bn in the quarter, alongside ~$9.4bn of shareholder cash returns. The quarter underscores the resilience of the XOM business model in volatile market conditions. We maintain Neutral rating and $170/sh NAV based price target."

For an analyst ratings summary and ratings history on ExxonMobil click here. For more ratings news on ExxonMobil click here.

Shares of ExxonMobil closed at $155.44 yesterday.

You May Also Be Interested In

• Raymond James Upgrades RBC Bearings (RBC) to Outperform
• ADP (ADP) Reiterated at Hold by Stifel as 'Pricing Power Remains Elevated'
• Piper Sandler Downgrades Integer Holding (ITGR) to Neutral