Morgan Stanley Rates Exxon Mobil (XOM) buy, $168 Price Target

Morgan Stanley analyst Devin McDermott has reiterated his buy rating on Exxon Mobil Corporation (NYSE: XOM) as of June 29, 2026. The investment firm set a price target of $168 for the energy giant, underscoring confidence in its prospects.

Other Institutional Activity in Exxon Mobil

BlackRock, Inc. grew its holdings in Exxon Mobil by 11,518,718 shares, ending with 322,741,137 shares valued at about $54.76 billion, reflecting a 3.7% increase. Vanguard Capital Management LLC opened a new position with 271,198,613 shares valued at approximately $46.01 billion. State Street Corp added 8,790,138 shares, bringing its total to 213,904,380 shares worth around $36.29 billion, marking a 4.3% increase. FMR LLC increased its stake by 8,288,753 shares, holding a total of 140,010,460 shares valued at $23.75 billion, a 6.3% increase.

Exxon Mobil Corporation Stock Down 22.8%

Shares of NYSE:XOM traded near $136.54 on Monday. Exxon Mobil has a market cap of approximately $565.95 billion, a P/E ratio of 22.99, and a beta of 0.149. The stock has seen a 52-week low of $105.53 and a high of $176.41. Its 50-day moving average is $148.86, while the 200-day moving average is $135.19. The company maintains a current ratio of 1.036 and a quick ratio of 0.744, with a debt-to-equity ratio of 18.261.

Recent Earnings

Exxon Mobil reported revenue of $326.01 billion, with a modest growth rate of 2.6%. The company's earnings per share stood at $5.94, with a net margin of 7.76% and a return on equity of 9.87%. The next earnings report is expected on July 31, 2026.

Dividend

Exxon Mobil offers an annual dividend rate of $4.12, yielding 3.02%. The payout ratio is 68.01%.

Insider Buying and Selling at Exxon Mobil Corporation

In early 2026, Darrin Talley, Vice President of Corporate Strategic Planning, sold shares on multiple occasions. On March 16, Talley sold 1,080 shares at an average price of $155.50. Earlier, on March 2, he sold 2,150 shares at $157.82, and on February 9, he sold 3,230 shares at $149.18. On February 2, Talley sold 5,000 shares at $139.75.

Analysts Set New Price Targets

On June 29, 2026, Morgan Stanley maintained its buy rating for Exxon Mobil with a $168 price target. B of A Securities upgraded the stock to a buy with a $154 target on June 16, 2026. Mizuho kept a hold rating with a $175 target on May 27, 2026. Barclays maintained a buy rating with a $182 target on May 26, 2026. The consensus among analysts is a buy rating, with an average target price of $170.29 from 21 analysts.

About Exxon Mobil

Exxon Mobil Corporation, headquartered in Spring, Texas, is a leading player in the energy sector. The company is engaged in the exploration and production of crude oil and natural gas across the globe. It operates through various segments including Upstream, Energy Products, Chemical Products, and Specialty Products. Under the leadership of CEO Darren W. Woods, Exxon Mobil employs approximately 57,900 people and is committed to advancing its low-emission technologies and business opportunities.

Bottom Line

Morgan Stanley's reaffirmation of a buy rating for Exxon Mobil, with a $168 price target, highlights ongoing confidence in the company's performance. Investors keep a close eye on such analyst ratings as they can provide insights into the stock's potential. Remember, these ratings are based on past data and projections, and actual performance may vary.