Piper Sandler raises ExxonMobil stock price target to $134 on updated oil price deck

Published 08/07/2025, 14:10
© Reuters.

Investing.com - Piper Sandler has raised its price target on ExxonMobil (NYSE:XOM) stock to $134.00 from $131.00 while maintaining an Overweight rating. According to InvestingPro analysis, the stock appears undervalued, with the company maintaining strong financial health and a solid 3.56% dividend yield.

The firm adjusted its ExxonMobil price target based on its updated oil price forecast, which now projects Brent crude at $67 per barrel in 2025 and $63 per barrel in 2026, up from previous estimates of $63 and $61 respectively.

Despite the higher price target, Piper Sandler reduced its second-quarter earnings estimate for ExxonMobil to $1.52 per share, down from its previous estimate of $1.67 and slightly below the Street consensus of $1.53.

The downward revision to quarterly earnings expectations stems primarily from lower anticipated Energy Products contributions, which the firm now estimates at $1.3 billion versus its previous $1.6 billion forecast.

Piper Sandler also reduced its Upstream earnings estimate to $5.0 billion from $5.3 billion previously, citing lower liquids and gas prices weighing on the sector.

In other recent news, ExxonMobil, along with its partner QatarEnergy, has discovered a significant natural gas reservoir off the coast of Cyprus. This marks their second gas find in Block 10, with further assessments planned to evaluate the reservoir’s potential. Meanwhile, ExxonMobil is gearing up for its second-quarter 2025 earnings report, with UBS maintaining a Buy rating and forecasting earnings per share of $1.66, surpassing the Street consensus. Mizuho (NYSE:MFG), however, maintains a Neutral rating, projecting earnings per share of $1.72, which is about 11% above consensus estimates.

In a separate development, TD Cowen raised its price target for ExxonMobil to $128, citing higher near-term earnings expectations and reaffirming the company as a "Top Pick" in its coverage. The firm noted ExxonMobil’s technological advancements and strategic positioning in the energy sector. Additionally, Kazakhstan’s Tengizchevroil, partially owned by ExxonMobil, has successfully shipped its first oil to Germany via Russia’s Druzhba pipeline, marking a new export route. These developments reflect ongoing strategic moves and potential growth opportunities for ExxonMobil in the global energy market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.