Zacks Research upgraded ExxonMobil to Strong Buy from Hold. The move comes amid broader optimism among analysts. Jefferies and Barclays recently set price targets of $200 for XOM, while the overall analyst consensus remains Moderate Buy.
The upgrade reflects ExxonMobil’s scale, integrated business model and exposure to higher oil prices. Institutional investors own a significant portion of the company’s stock, though their activity has been mixed, with some major holders increasing their positions.
Investors are watching ExxonMobil’s upcoming earnings report on October 30th.