Wells Fargo cuts ExxonMobil stock rating to Equal Weight

Published on 10/06/2026 at 11:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo kept its USD 182.00 target after the rating cut. ExxonMobil stock costs EUR 145.23 on October 6, 2026 after EUR 146.23.

ExxonMobil, US30233Q1085, Illustration mit AI erstellt.

ExxonMobil (ISIN US30233Q1085) was trading at EUR 145.23 at Lang & Schwarz on October 6, 2026 at 11:14 a.m. CEST, with a change of minus 0.68 percent versus the prior close of EUR 146.23. According to MarketBeat on October 2, 2026, Wells Fargo downgraded ExxonMobil from Overweight to Equal Weight in a report issued October 1, 2026, while keeping its USD 182.00 price target.

Wells Fargo lowers conviction

The rating change is the clearest current analyst signal in the stock's setup. Wells Fargo retained the target even as it reduced the rating, separating its valuation view from its near-term conviction.

MarketBeat also reported that 25 analysts carried a consensus Hold rating and an average price target of USD 164.78 on October 2, 2026. The Wells Fargo target therefore stood USD 17.22 above that consensus average, while the rating change points to a more cautious view of the shares.

Second-quarter earnings set the test

For the second quarter of 2026, ExxonMobil reported revenue of USD 114.53 billion versus a USD 109.94 billion consensus estimate, according to MarketBeat. That 4.18 percent revenue comparison favored ExxonMobil, although quarterly earnings per share of USD 3.52 came in below the USD 3.56 consensus estimate.

ExxonMobil's investor-relations page lists USD 14.5 billion of GAAP earnings and USD 23.6 billion of cash flow from operations for the second quarter of 2026. Those figures show why the analyst debate is centered on the durability of cash generation rather than on a single quarterly revenue line, with upstream production, refining margins and project timing shaping the next comparison.

EUR 145.23 quote in trading

At Lang & Schwarz, ExxonMobil was trading at EUR 145.23 on October 6, 2026 at 11:14 a.m. CEST, with a change of minus 0.68 percent versus the prior close of EUR 146.23. On the NYSE, XOM was last at USD 164.02 on October 5, 2026 at 3:59 p.m. EDT, within a 52-week range of USD 110.39 to USD 176.41 and at a market capitalization of USD 679.8 billion. The further course of trading is shown by the continuously updated real-time quote of ExxonMobil stock.