Street View: Exxon's upstream business steals the spotlight

Oil producer Exxon Mobil XOM.N beat Wall Street expectations for the fourth quarter, boosted by higher output from its profitable Permian Basin and Guyana operations

Median PT of 28 brokerages covering the stock is $135 - data compiled by LSEG

GOALS GLEAMING

Evercore ISI ("outperform," PT: $145) expects another strong year in co's upstream business, while the downstream segment may have a heavier start due to planned maintenance

RBC Capital Markets ("sector perform," PT: $150) expects similar strong upstream execution ahead, but warns that macro headwinds are likely to persist in the chemicals business

Piper Sandler ("overweight," PT: $142) says that while Q1 could see a slight impact from higher maintenance in both upstream and downstream operations, FY26 outlook remains strong

Morningstar (fair value: $142) says co's strategy of adding high‑margin output and cutting structural costs is keeping it on track for its 2030 earnings goals, even with lower year‑over‑year profit