Barclays Raises its Price Target on Exxon Mobil (XOM)

Exxon Mobil Corporation (NYSE:XOM) is one of the 8 Best Natural Resources Stocks to Buy Now.

On May 26, 2026, Barclays analyst Betty Jiang raised the firm’s price target on Exxon Mobil Corporation (NYSE:XOM) to $182 from $163 and maintained an Overweight rating on the shares. Jiang said depleting inventories, shrinking OPEC spare capacity, and a “muted” U.S. production response to the Middle East war are reinforcing a tighter oil macro backdrop that is not fully reflected in equities. Barclays said this sets up “oily” exploration and production companies for a share re-rating after the conflict, while also cutting its gas price outlook on near-term oversupply.

Meanwhile, Mizuho raised the firm’s price target on Exxon Mobil Corporation (NYSE:XOM) to $175 from $159 and maintained a Neutral rating on the shares. Mizuho said it expects the Iran crisis to have a prolonged impact on global oil prices and refining cracks. The firm increased its 2026 and 2027 oil price outlook by 25% and 6%, respectively, and raised its forecast for U.S. refining cracks by 61% and 51%. Mizuho added that a pullback in stock valuations despite elevated commodity prices creates an opportunity for investors to seek “alpha” in U.S. oil and gas.

On May 21, 2026, Exxon Mobil Corporation (NYSE:XOM) was reportedly in talks to acquire rights to produce oil in Venezuela nearly two decades after it was effectively expelled from the country, according to The New York Times’ Anatoly Kurmanaev. The report said a finalized deal would mark Exxon’s return to the country after years of legal battles.

Exxon Mobil Corporation (NYSE:XOM) explores for and produces crude oil and natural gas in the United States, Canada, and internationally.

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