Wells Fargo downgrades ExxonMobil stock to Hold

Published on 10/02/2026 at 17:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue hit USD 114.53 billion, above USD 109.94 billion consensus. ExxonMobil stock costs EUR 145.25 after EUR 145.68, minus 0.30 percent.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil (ISIN US30233Q1085) was trading at EUR 145.25 at Lang & Schwarz on October 2, 2026 at 5:14 p.m. CEST, down 0.30 percent versus the prior close of EUR 145.68. According to MarketBeat on October 2, 2026, Wells Fargo downgraded ExxonMobil from strong-buy to hold. The rating change puts valuation alongside operating performance as the immediate issue for the stock.

Wells Fargo changes its rating

The Wells Fargo action changes the stated view from strong-buy to hold, while the broader analyst picture remains mixed. MarketBeat reported that eleven analysts rated ExxonMobil a Buy and fourteen assigned a Hold rating, with an average target price of USD 164.78.

The same MarketBeat report said ExxonMobil delivered USD 3.52 in earnings per share in the second quarter of 2026, below the USD 3.56 consensus estimate. Revenue reached USD 114.53 billion, exceeding the USD 109.94 billion consensus estimate by USD 4.59 billion.

Second-quarter cash flow remains central

ExxonMobil's investor-relations page reported USD 14.5 billion in GAAP earnings and USD 14.7 billion in adjusted earnings for the second quarter of 2026. Cash flow from operations reached USD 23.6 billion, while cash capital expenditures were USD 6.8 billion, giving investors a clear measure of the cash generation supporting the integrated energy model.

The company organizes its operations across Upstream, Product Solutions and Low Carbon Solutions, with projects spanning oil and gas production, refining, chemicals, liquefied natural gas and lower-emission technologies. Analysts also expect ExxonMobil to report third-quarter 2026 results on October 30, 2026, with consensus earnings per share of USD 3.40 versus USD 1.88 in the year-earlier quarter and revenue of USD 94.88 billion versus USD 85.29 billion, according to ScanX News on October 2, 2026.

Stock stays below its yearly high

ExxonMobil stock was trading at EUR 145.25 at Lang & Schwarz on October 2, 2026 at 5:14 p.m. CEST, compared with a prior close of EUR 145.68. The primary NYSE listing was last quoted at USD 163.56 at 11:30 a.m. ET, with a 52-week range of USD 110.39 to USD 176.41 and market capitalization of USD 677.9 billion as of October 2, 2026.

The further course of trading is shown by the continuously updated real-time quote of ExxonMobil stock.