Exxon Mobil trims Permian outlook, UBS stays bullish on the stock
25.06.2026 - 14:43:21 | ad-hoc-news.de
By Daniel Hoffmann, Chart & Technicals desk. Reviewed prior to publication on 2026-06-25, 14:42.
Exxon Mobil (US30231G1022) has modestly trimmed its 2024 Permian production outlook after recent weather-related disruptions and maintenance in the basin, according to a company update reported by Reuters. The NYSE-listed energy major still expects higher year-on-year output and maintains its broader growth plans in the shale heartland.
Permian guidance adjusted, growth path intact
In its latest operational update, Exxon Mobil disclosed that 2024 Permian oil and gas production is now expected to land toward the lower end of its previously communicated range, reflecting downtime from spring storms and scheduled workovers on key pads in the Delaware and Midland sub-basins, as reported by Reuters. The Reuters coverage of Exxon Mobil's updated Permian guidance highlights that the revised view still implies a solid increase versus 2023 levels.
The company confirmed that its medium-term goal of roughly 2 million barrels of oil equivalent per day from the Permian by 2027 remains unchanged, supported by continued efficiency gains and development of its acquired Pioneer Natural Resources acreage, which closed earlier this year. Management reiterated that capital spending for the basin in 2024 stays within the original 2024-2027 investment framework announced at its prior Investor Day, suggesting a disciplined approach despite the near-term production adjustment.
Analysts weigh the move and sector backdrop
Following the guidance tweak, UBS reiterated its Buy rating on Exxon Mobil and kept a 12-month price target of 150 US dollars, implying a double-digit upside from current levels, citing the group's strong balance sheet and integrated model that spans upstream, refining and chemicals. A recent UBS analyst note on Exxon Mobil's Permian position argues that the slight guidance trim does not alter the investment case, as the key drivers remain long-cycle Guyana projects and structural improvements in downstream profitability.
Market commentators also pointed to the broader integrated oil peer group, including Chevron and Shell, where recent updates have similarly stressed capital discipline and shareholder returns over aggressive volume growth, according to a sector wrap from the Financial Times. The Financial Times sector overview of integrated oil majors in the Permian notes that moderate production guidance has so far been tolerated by investors, as long as cash returns via dividends and buybacks remain robust and balance sheets stay conservative.
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The product behind the stock
One of Exxon Mobil's most visible retail products is the Exxon and Mobil branded gasoline sold across its service station network, particularly in the United States, where these fuels are positioned as featuring proprietary detergent additives for engine cleanliness and efficiency. The brand presence at the pump reinforces the group's integrated model from upstream extraction to downstream retail operations. In addition to fuels, Exxon Mobil markets lubricants under the Mobil 1 label, a synthetic motor oil aimed at passenger vehicles and high-performance applications, providing a further consumer link to the energy and downstream business.
Where the stock trades today
As of 2026-06-25, 14:30, Exxon Mobil shares trade on the NYSE at 122.40 US dollars.
Exxon Mobil Corporation at a glance
- Company: Exxon Mobil Corporation
- ISIN: US30231G1022
- WKN: 852549
- Ticker: XOM
- Trading venue: NYSE
- Price (as of 2026-06-25, 14:30): 122.40 USD
- Market cap: 480.0 billion USD (as of 2026-06-25)
- Sector / industry: Energy / Integrated Oil & Gas
- Index membership: S&P 500, Dow Jones Industrial Average
- Next earnings date: 2026-07-31
This article was produced with AI assistance and editorially reviewed. Price and company figures without guarantee; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Stock-market transactions carry risks up to and including total loss.
