UBS raises target for ExxonMobil stock from USD 185 to USD 199

Published on 10/20/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Refining margins could add USD 4.5 billion in the third quarter. ExxonMobil stock costs EUR 160.03 on October 20, 2026.

Refining boost and earnings calendar

Higher refining margins could add USD 4.5 billion to third-quarter earnings on October 16, 2026.
ExxonMobil reported USD 14.50 billion in GAAP earnings for the second quarter of 2026.
ExxonMobil stock stood at EUR 160.03 at 10:47 a.m. CEST at Lang & Schwarz on October 20, 2026.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil (US30233Q1085) stood at EUR 160.03 at Lang & Schwarz on October 20, 2026 at 10:47 a.m. CEST. Investing.com reported on October 19, 2026 that UBS raised its ExxonMobil target from USD 185 to USD 199 while maintaining a Buy rating.

Refining drives the near-term debate

Reuters reported on October 16, 2026 that higher refining margins could lift ExxonMobil's downstream profit by USD 4.5 billion versus the second quarter. The same report said upstream earnings could lose USD 1.3 billion from lower liquids prices, while asset divestments could add USD 700.00 million.

The comparison matters because the margin effect concerns one factor in quarterly performance, not a full earnings forecast. ExxonMobil also flagged estimated timing effects of negative USD 2.5 billion, making adjusted results more important than a simple comparison of headline profit.

What does the target change mean?

UBS lifted its third-quarter 2026 earnings-per-share estimate to USD 4.14 from USD 3.27, above the USD 3.84 consensus cited by Investing.com on October 19, 2026. The estimate gives the target increase a direct earnings framework, but exposure to oil prices and refining margins remains material.

Three recent ExxonMobil markers

On July 31, 2026, ExxonMobil reported USD 114.53 billion in second-quarter revenue and USD 3.52 adjusted earnings per share, below the USD 3.56 consensus, according to MarketBeat. On October 16, 2026, ExxonMobil disclosed the USD 4.5 billion refining-margin effect, and on October 19, 2026, UBS raised its target to USD 199.

Next date for results

ExxonMobil will release third-quarter 2026 financial results on October 30, 2026. The company scheduled its review call for 8:30 a.m. Central Time on the same date.

Price stays tied to the German market

ExxonMobil's second-quarter 2026 results included USD 14.50 billion in GAAP earnings and USD 14.70 billion in adjusted earnings, alongside USD 23.60 billion in operating cash flow. The company had a USD 733.1 billion market capitalization and a USD 111.98 to USD 179.30 52-week range as of October 19, 2026.

ExxonMobil stood at EUR 160.03 at Lang & Schwarz on October 20, 2026 at 10:47 a.m. CEST.

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