Wells Fargo cuts ExxonMobil stock rating to Equal Weight

Published on 10/05/2026 at 09:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GAAP earnings reached USD 14.5 billion in the second quarter of 2026. ExxonMobil stock costs EUR 145.68 on October 5, 2026 versus EUR 145.70.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil (ISIN US30233Q1085) was trading at EUR 145.68 at Lang & Schwarz on October 5, 2026 at 9:42 a.m. CEST, down 0.01 percent versus the prior close of EUR 145.70. According to Fintel on October 1, 2026, Wells Fargo cut its ExxonMobil rating from Overweight to Equal Weight.

Wells Fargo shifts its view

The rating change is the latest signal that valuation has become a central issue for ExxonMobil. The same Fintel report said the stock closed at USD 162.75 on September 30, 2026, while the consensus target mean stood at USD 172.79 on September 15, 2026, up 1.60 percent from USD 170.06 on August 28, 2026.

MarketBeat listed 25 analyst ratings, including 11 Buys and 14 Holds, with an average target of USD 164.78. That mix leaves the consensus at Hold, a more cautious signal than the higher individual targets from some research firms.

Second-quarter cash flow adds support

ExxonMobil reported USD 14.5 billion of GAAP earnings and USD 23.6 billion of cash flow from operations for the second quarter of 2026, according to its ExxonMobil investor-relations page. The company also reported USD 14.7 billion of adjusted earnings, showing that cash generation remained a major counterweight to the rating change.

MarketBeat reported adjusted earnings per share of USD 3.52 for the second quarter of 2026, below the USD 3.56 consensus estimate, while revenue reached USD 114.53 billion versus USD 109.94 billion expected. Revenue therefore exceeded consensus by USD 4.59 billion, even as adjusted earnings per share missed by USD 0.04.

October results set the next marker

ExxonMobil's next earnings date is scheduled for October 23, 2026, according to Fintel. The upcoming report will test whether the second-quarter revenue strength and operating cash flow can offset the market's more restrained rating profile.

ExxonMobil stock stays below its yearly high

At Lang & Schwarz, ExxonMobil stock was trading at EUR 145.68 on October 5, 2026 at 9:42 a.m. CEST, down 0.01 percent versus the prior close of EUR 145.70. The primary listing is on the NYSE, where the finance quote showed a USD 679.7 billion market capitalization and a USD 110.39 to USD 176.41 52-week range as of October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of ExxonMobil stock.