Why is Exxon Mobil stock gaining Wednesday?

Exxon Mobil Corp. XOM stock rose about 1% in Wednesday’s premarket session as investors looked ahead to the company’s second-quarter earnings report.

The gains came despite a weaker broader market, with S&P 500 futures down about 0.3%.

ExxonMobil said Tuesday it will report its second-quarter 2026 financial results on Friday, July 31.

Investors Await Impact Of Higher Oil Prices

Investors will be watching whether stronger commodity prices helped lift second-quarter earnings.

In a recent filing highlighted by Benzinga, ExxonMobil said higher liquids prices are expected to boost upstream earnings by $3.5 billion to $3.9 billion from the first quarter. Higher margins in the Chemical Products segment are also expected to increase earnings by $1.0 billion to $1.2 billion sequentially.

The company said changes in natural gas prices are expected to have an impact ranging from a $0.2 billion headwind to a $0.2 billion benefit.

However, ExxonMobil also warned that war-related disruptions are expected to reduce upstream earnings by $0.6 billion to $0.8 billion and Energy Products earnings by $0.2 billion to $0.4 billion during the quarter.

Exxon Mobil Technical Analysis

Exxon Mobil remains in a long-term uptrend, with the stock up 39.8% over the past 12 months.

The shares continue to trade above key moving averages, sitting about 8.7% above the 20-day simple moving average of $141.00 and 11.5% above the 200-day simple moving average of $137.44.

However, the 20-day moving average remains below the 50-day moving average, signaling some near-term consolidation.

Momentum indicators remain favorable. The MACD is above its signal line and the histogram remains positive, suggesting buying momentum is improving after the previous pullback.

Key technical levels include:

• Resistance: $155.50
• Support: $144.50

Integrated Energy Business Provides Multiple Growth Drivers

Exxon Mobil operates across the entire oil and gas value chain, including upstream production, refining and chemicals.

In 2025, the company produced 3.3 million barrels of liquids per day and 8.4 billion cubic feet of natural gas per day.

At year-end 2025, Exxon Mobil reported proved reserves of 19.3 billion barrels of oil equivalent, with liquids accounting for 69% of total reserves. The company also operated 4.1 million barrels per day of global refining capacity.

That diversified business model means quarterly earnings are influenced by crude oil prices, refining margins and chemical market conditions.

Exxon Mobil Earnings And Analyst Outlook

Wall Street expects Exxon Mobil to report second-quarter earnings per share of $3.76, up from $1.64 a year earlier.

Revenue is projected to reach $101 billion, compared with $81.51 billion in the same quarter last year.

The stock trades at about 25.5 times earnings and carries a consensus Buy rating with an average analyst price forecast of $170.59. Recent analyst actions include:

• Mizuho maintained Neutral and lowered its price forecast to $170 on July 9.
• TD Cowen maintained Buy and reduced its price forecast to $155 on July 2.
• Morgan Stanley maintained Overweight and lowered its price forecast to $168 on June 29.

Which Funds Hold The Most Exxon XOM Stock?

Exxon Mobil is a major holding in several exchange-traded funds, including:

• iShares Core High Dividend ETF HDV: 7.17% weighting
• First Trust Morningstar Dividend Leaders Index Fund FDL: 9.98% weighting
• SPDR S&P North American Natural Resources ETF NANR: 9.11% weighting

Large inflows or outflows in these ETFs can create additional buying or selling pressure in Exxon Mobil shares.

Exxon Mobil Price Action

XOM Stock Price Activity: ExxonMobil Holdings shares were up 1.09% at $153.36 during premarket trading on Wednesday, according to Benzinga Pro data.

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This article Why Is Exxon Mobil Stock Gaining Wednesday? originally appeared on Benzinga.com.