Exxon Mobil stock draws a higher TD Cowen target in Q3 2026

Published on 09/30/2026 at 14:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TD Cowen lifted its Exxon Mobil target to USD 180.00 from USD 168.00 on September 28, 2026. Q2 revenue beat consensus, but EPS missed.

Massive oil refinery complex at night with multiple flare stacks burning brightly against a deep navy sky, distillation towers and industrial pipes illuminated by amber light, reflections on wet ground, photorealistic wide panoramic view — Exxon US30231G1022 zeigt eine riesige Raffinerie mit Schornsteinen und Flackerflammen bei dramatischer Nacht, Illustration mit AI erstellt.

Exxon Mobil stock has a new USD 180.00 TD Cowen price target, up from USD 168.00 on September 28, 2026, while the analyst kept a Buy rating, as Yahoo Finance reports. The revision puts Exxon Mobil's latest operating figures and cash generation at the center of the valuation debate.

Q2 revenue beat estimates

Exxon Mobil reported second-quarter 2026 revenue of USD 114.53 billion, compared with the USD 109.94 billion consensus estimate, according to MarketBeat on September 28, 2026. That revenue beat was paired with EPS of USD 3.52, which missed the USD 3.56 consensus by USD 0.04.

The earnings mix was stronger in cash terms. ExxonMobil's second-quarter 2026 call cited USD 14.5 billion of earnings and USD 23.6 billion of operating cash flow, while free cash flow exceeded USD 17 billion, as Fortune reported from the July 31, 2026 earnings call.

Cash generation supports the target

The figures explain why the higher TD Cowen target is not based on earnings per share alone. Management said ExxonMobil returned more than USD 9 billion to shareholders during the quarter and reduced net debt by more than USD 7 billion, while production in the Permian exceeded 1.8 million oil-equivalent barrels per day.

Analyst sentiment remains divided. MarketBeat listed a consensus Hold rating and an average target of USD 164.78 on September 28, 2026, leaving TD Cowen's USD 180.00 target above that consensus level.

Exxon Mobil keeps a large valuation base

Exxon Mobil had a market capitalization of USD 668.8 billion as of September 29, 2026. Its 52-week range was USD 110.39 to USD 176.41, placing the current valuation near the upper end of its annual trading band.

The company trades as XOM on the NYSE under ISIN US30231G1022, a listing identified by ayondo on September 8, 2026. Exxon Mobil's integrated model spans upstream production, refining, fuels marketing, chemicals and lower-carbon solutions, so cash flow and capital returns remain important counterweights to the EPS miss.