Wells Fargo cut ExxonMobil stock to Equal Weight

Published on 10/12/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 114.53 billion versus USD 109.94 billion. ExxonMobil stock costs EUR 151.83 on October 12, 2026.

Key points in brief

Wells Fargo cut ExxonMobil to Equal Weight on October 1, 2026, while keeping its USD 182.00 target.
Second-quarter revenue reached USD 114.53 billion, exceeding the USD 109.94 billion consensus estimate.
ExxonMobil stock was trading at EUR 151.83 at Lang & Schwarz on October 12, 2026 at 11:33 a.m. CEST.
The company is scheduled to report its next results on October 30, 2026.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil (ISIN US30233Q1085) was trading at EUR 151.83 at Lang & Schwarz on October 12, 2026 at 11:33 a.m. CEST. Wells Fargo cut its rating from Overweight to Equal Weight on October 1, 2026, while keeping a USD 182.00 price target, as MarketBeat reported.

Three milestones shape the setup

On July 31, 2026, ExxonMobil reported second-quarter revenue of USD 114.53 billion and GAAP earnings of USD 14.50 billion. The revenue figure exceeded the USD 109.94 billion consensus estimate by USD 4.59 billion, according to MarketBeat, while the company investor page lists USD 14.5 billion in GAAP earnings and USD 23.6 billion in operating cash flow for the quarter.

On September 15, 2026, ExxonMobil received approval for a Texas carbon capture project that calls for more than USD 5 billion of investment, according to Aktiencheck. The project is designed to store 53 million tons of carbon dioxide over 13 years.

On October 1, 2026, Wells Fargo moved the stock from Overweight to Equal Weight and kept its USD 182.00 target, as MarketBeat reported. The unchanged target makes the rating change a valuation call rather than a reduction in the stated fair-value reference.

What does the downgrade change?

The main shift is the rating, not the target. Wells Fargo still cited USD 182.00, while Equal Weight signals a more balanced view of near-term relative performance than Overweight.

ExxonMobil therefore enters the October reporting date with two opposing reference points: second-quarter revenue exceeded consensus by USD 4.59 billion, while the latest analyst action reduced the rating without cutting the target. That combination places the next earnings release at the center of the stock's near-term narrative.

October 30 is the next date

ExxonMobil is scheduled to report its next earnings on October 30, 2026, according to Gekko. The date follows the second-quarter figures and will provide the next quantified test of revenue, earnings and cash generation.

Trading stays near the October reference

ExxonMobil stock was trading at EUR 151.83 at Lang & Schwarz on October 12, 2026 at 11:33 a.m. CEST. The finance snapshot places market capitalization at USD 700.2 billion as of October 9, 2026, while the NYSE reference range was USD 110.39 to USD 176.41 for the 52-week period.

The company is listed on the NYSE under ticker XOM, operates across upstream, energy products, chemical products and specialty products, and reported USD 23.6 billion in operating cash flow for the second quarter. The further course of trading is shown by the continuously updated real-time quote of ExxonMobil stock.