Exxon Mobil Corp. stock rose approximately 1% in Wednesday's premarket session as investors anticipated the financial impact of higher oil prices ahead of its second-quarter 2026 earnings report. The gains occurred despite S&P 500 futures declining about 0.3%, highlighting investor confidence in the energy sector's specific drivers. Exxon Mobil is scheduled to report its second-quarter 2026 financial results on Friday, July 31.

Investors Await Impact Of Higher Oil Prices

Investors are focused on whether stronger commodity prices lifted second-quarter earnings. In a recent filing, Exxon Mobil indicated that higher liquids prices are expected to boost upstream earnings by $3.5 billion to $3.9 billion compared to the first quarter. Additionally, higher margins in the Chemical Products segment are projected to increase earnings by $1.0 billion to $1.2 billion sequentially.

However, the company noted that changes in natural gas prices could result in an impact ranging from a $0.2 billion headwind to a $0.2 billion benefit. Exxon Mobil also warned that war-related disruptions are expected to reduce upstream earnings by $0.6 billion to $0.8 billion and Energy Products earnings by $0.2 billion to $0.4 billion during the quarter.

Exxon Mobil Technical Analysis

Exxon Mobil remains in a long-term uptrend, with the stock up 39.8% over the past 12 months. The shares are trading above key moving averages, sitting about 8.7% above the 20-day simple moving average of $141.00 and 11.5% above the 200-day simple moving average of $137.44. Despite this, the 20-day moving average remains below the 50-day moving average, signaling some near-term consolidation. Momentum indicators remain favorable, with the MACD above its signal line and a positive histogram suggesting improving buying momentum.

Integrated Energy Business Provides Multiple Growth Drivers

Exxon Mobil operates across the entire oil and gas value chain, including upstream production, refining, and chemicals. In 2025, the company produced 3.3 million barrels of liquids per day and 8.4 billion cubic feet of natural gas per day. At year-end 2025, Exxon Mobil reported proved reserves of 19.3 billion barrels of oil equivalent, with liquids accounting for 69% of total reserves. The company also operated 4.1 million barrels per day of global refining capacity.

Exxon Mobil Earnings And Analyst Outlook

Wall Street expects Exxon Mobil to report second-quarter earnings per share of $3.76, up from $1.64 a year earlier. Revenue is projected to reach $101 billion, compared with $81.51 billion in the same quarter last year. The stock trades at about 25.5 times earnings and carries a consensus Buy rating with an average analyst price forecast of $170.59.

Exxon Mobil Corporation shares are trading higher on Wednesday as markets weighed U.S. military strikes on Iran following attacks on commercial shipping in the Strait of Hormuz. The geopolitical instability drove oil prices higher, with WTI crude rising 5.83% to $74.55 a barrel and Brent gaining 5.68% to $78.37. The surge in energy prices is expected to significantly bolster Exxon Mobil's financial performance for the second quarter.

Strong Commodity Prices

Exxon Mobil expects stronger commodity prices to significantly boost its second-quarter upstream earnings compared with the first quarter. Higher liquids prices are projected to increase upstream results by $3.5 billion-$3.9 billion. Meanwhile, changes in natural gas prices are expected to have an impact of about $(0.2) billion-$0.2 billion in the second quarter.

Additionally, higher margins in its Chemical Products segment are anticipated to increase second-quarter earnings by $1.0 billion-$1.2 billion versus the prior quarter. However, Exxon Mobil expects war-related disruptions on volumes to impact upstream earnings by $(0.8) – $(0.6) billion and Energy Products earnings by $(0.4) – $(0.2) billion in the second quarter.

Earnings Preview and Analyst Consensus

The next major catalyst for the stock arrives with the July 31, 2026 (estimated) earnings report. Analysts expect an EPS of $3.76, up from $1.64 year-over-year, and revenue of $101.00 Billion, up from $81.51 Billion year-over-year. The stock carries a Buy rating with an average price target of $170.88.

Recent analyst moves include TD Cowen maintaining a Buy rating but lowering its target to $155.00 on July 2, Morgan Stanley keeping an Overweight rating with a target of $168.00 on June 29, and B of A Securities upgrading to Buy with a target of $154.00 on June 16.

Benzinga Edge Rankings and ETF Exposure

The Benzinga Edge scorecard for Exxon Mobil highlights a value-tilted setup with middling momentum. The stock scores 76.89 on Value, indicating it screens attractively versus peers, while Momentum and Growth scores are Neutral at 50.99 and 68.18, respectively.

Exxon Mobil holds significant weight in major ETFs, including the iShares North American Natural Resources ETF (9.99%), the State Street SPDR S&P North American Natural Resources ETF (9.11%), and the iShares Core High Dividend ETF (8.42%). These heavy weightings mean significant inflows or outflows for these funds will likely force automatic buying or selling of the stock.

Exxon Mobil shares were up 2.34% at $145.00 during premarket trading on Wednesday.