J.P. Morgan Maintains Buy Rating on Exxon Mobil with $124 Price Target

Exxon Mobil received a Buy rating from J.P. Morgan, with a price target of $124.00. Analyst John Royall has a 6.3% average return and a 56.80% success rate on recommended stocks. Additionally, TR | OpenAI – 4o's James Petrolyn also gave Exxon Mobil a Buy rating, while RBC Capital maintained a Hold rating. Exxon Mobil has a one-year high of $126.34 and a one-year low of $97.80, with an average volume of 16.71M.

Exxon Mobil Corporation (NYSE:XOM) reported its second-quarter 2025 earnings on August 1, 2025, revealing a strong performance despite market challenges. The company's earnings of $7.1 billion, or $1.64 per share, exceeded analyst estimates of $1.56 per share, while total revenues of $80.94 billion fell short of the consensus forecast of $91.73 billion [2].

Operational highlights included record production of 4.6 million oil-equivalent barrels per day, a 13% increase from the first half of 2024, driven largely by the Pioneer Natural Resources acquisition and record output from the Permian Basin [1]. The Upstream segment reported earnings of $5.4 billion, down from the previous quarter due to weaker commodity prices but offset by volume growth from advantaged assets [1]. Energy Products earnings increased to $1.37 billion, up from $1.21 billion in the first quarter, fueled by stronger refining margins and higher volumes [2].

Despite the earnings drop, Exxon Mobil maintained its guidance for 2025, expecting project start-ups to significantly contribute to earnings in the coming year. The company's cash flow from operations was $11.5 billion, with a free cash flow of $5.4 billion, ending the period with a cash balance of $15.7 billion [1].

Exxon Mobil's CEO, Darren Woods, reaffirmed the company's strategic growth plan, commencing start-up operations on three key projects: the Singapore Resid Upgrade, the Fawley Hydrofiner in the United Kingdom, and the Strathcona Renewable Diesel project in Canada [1]. These projects are part of a broader plan to add more than $3 billion in earnings power by 2026.

Analysts have responded positively to Exxon Mobil's performance. J.P. Morgan and TR | OpenAI – 4o have given the company a Buy rating, while RBC Capital maintained a Hold rating. Exxon Mobil's stock has seen a modest increase of 0.37% month-to-date, with a one-year high of $126.34 and a one-year low of $97.80, indicating investor confidence in the company's strategic direction [2].

References:
[1] https://www.aol.com/exxon-mobil-hits-record-production-162251903.html
[2] https://www.ainvest.com/news/exxon-mobil-2025-q2-earnings-misses-targets-net-income-drops-23-2-2508/