Investing.com – Mizuho lowered its price target on ExxonMobil stock (NYSE:XOM) to $170 from $175 while maintaining a Neutral rating on the shares. The stock currently trades at $140.95 with a market cap of $583.9 billion and a P/E ratio of 23.67. According to InvestingPro analysis, the stock appears slightly overvalued relative to its Fair Value, placing it among companies on the Most Overvalued list.
The firm calculates a mid-point second-quarter 2026 adjusted earnings per share of approximately $3.54 using the company’s earnings considerations 8-K, relatively in line with consensus estimates. This figure falls below Mizuho’s prior estimate of $5.15 per share.
Mizuho’s model did not reflect the late June decline in commodity prices and included approximately $1.8 billion of reversal of mark-to-market effects from the first quarter of 2026. The firm’s revised second-quarter 2026 earnings per share estimate stands at $3.71, slightly above updated consensus but in line with the 8-K disclosure.
The firm expects the earnings call to focus on the outlook for commodity markets and ExxonMobil’s exposure to the Middle East, particularly the Qatar LNG rebuild. Questions on core assets including Guyana production sharing contracts and Permian well productivity are also expected as investors seek clarity on how recent events have impacted the 2030 Capital Plan. The company’s next earnings report is scheduled for July 24, 2026, just 16 days away. For deeper insights, InvestingPro offers a comprehensive Pro Research Report on XOM, one of 1,400+ US equities covered, along with 6 additional ProTips beyond the basic analysis.
Mizuho trimmed its net asset value-based price target based on the volatile macroeconomic environment.
In other recent news, Exxon Mobil Corp. announced a significant change as it plans to redomicile from New Jersey to Texas, effective July 1, 2026. This move will also involve a name change to ExxonMobil Holdings Corp., marking the first name change since its merger with Mobil over 25 years ago. Each share of Exxon will be exchanged for a share in the new holding company, and trading will continue under the existing NYSE:XOM ticker. In a separate development, Exxon Mobil has struck a preliminary deal to supply liquefied natural gas to South Africa. The agreement aims to support South Africa’s transition from coal by enabling state utility Eskom Holdings SOC Ltd. to import gas for a proposed power plant. Additionally, energy stocks, including Exxon Mobil, experienced declines as crude oil prices fell sharply. The drop in oil prices coincided with a ceasefire agreement in the US-Israel conflict with Iran.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.