ExxonMobil Stock Surges as Brent Crude Jumps Past $90

ExxonMobil's stock jumped on August 31 as Brent crude prices surged past $90 per barrel following US strikes on Iranian rocket launchers in the Strait of Hormuz.

The geopolitical tension added to an already eventful period for ExxonMobil, which reported Q2 2026 earnings of $3.52 per share, missing analyst expectations by $0.04.

Revenue, however, beat estimates at $114.53 billion. The company's net margin stood at 8.88% and return on equity at 13.14% for the quarter.

TD Cowen raised its price target on XOM to $168 from $155 with a Buy rating. Analysts expect steady performance to continue, forecasting full-year EPS of $11.86 for ExxonMobil.