ExxonMobil plans to grow Permian Basin production at 9% CAGR through 2030
Company expects fifth Guyana FPSO to start production in 4Q26, adding 250 Kbd capacity
ExxonMobil says 2026 capital investments are planned to be 20% higher than nearest IOC
Result drivers
Record upstream production - Co said highest upstream output in more than two decades, led by record Permian production, contributed to earnings
Cost savings - Co cited cumulative structural cost savings of $16.3 bln since 2019 as supporting earnings and cash flow
Record diesel production - Record second-quarter diesel production supported Energy Products earnings, partly offset by scheduled maintenance
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
Wall Street's median 12-month price target for Exxonmobil Holdings Corp is $168.00, about 7% above its July 30 closing price of $156.97
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 21 three months ago
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