ExxonMobil stock reports strong Q2 cash flow of USD 23.6 billion

Published on 10/04/2026 at 17:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ExxonMobil stock faced a Wells Fargo downgrade to Equal Weight on October 2, 2026, with a USD 182 target retained. Q2 revenue reached USD 114.53 billion.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil stock (ISIN US30233Q1085) generated USD 23.6 billion in operating cash flow during Q2 2026, according to ExxonMobil. The latest market catalyst came from Wells Fargo, which cut its rating from Overweight to Equal Weight while retaining a USD 182 price target, as MarketBeat reported on October 2, 2026.

Cash flow anchors the Q2 picture

ExxonMobil's Q2 2026 results showed USD 14.5 billion in GAAP earnings and USD 14.7 billion in adjusted earnings. Operating cash flow of USD 23.6 billion gives the results a stronger cash dimension than the earnings line alone, particularly as the company continues to fund dividends, buybacks and capital investment.

On the per-share measure, adjusted EPS was USD 3.52, below the USD 3.56 consensus estimate. Revenue reached USD 114.53 billion against a USD 109.94 billion consensus, a USD 4.59 billion upside comparison for the quarter, according to MarketBeat.

Analyst caution meets a higher target

Wells Fargo's October 1, 2026 action lowered the rating without changing the USD 182 target. With ExxonMobil at USD 164.40 on October 2, 2026, that target stands USD 17.60 higher, or 10.71 percent above the trading price. The rating change therefore signals weaker relative conviction rather than a lower published valuation level.

MarketBeat lists a consensus Hold rating from 25 analysts and an average target of USD 164.78. The consensus target is USD 0.38 above the October 2 price, equal to 0.23 percent, leaving the market close to the published average rather than the Wells Fargo target.

Q3 date puts execution in view

ScanX News reported that ExxonMobil is scheduled to report third-quarter results on October 30, 2026. Analysts cited in the report project EPS of USD 3.40, up from USD 1.88 a year earlier, and revenue of USD 94.88 billion, up from USD 85.29 billion. Those estimates put realized prices, refining margins and production execution at the center of the next earnings test.

Stock remains below its yearly high

ExxonMobil was trading at USD 164.40 on the NYSE on October 2, 2026, with a 0.35 percent session gain. The stock's 52-week range was USD 110.39 to USD 176.41, while market capitalization stood at USD 676.0 billion and volume reached 5,161,816 shares.