Exxon Mobil Near 52-Week High as Piper Sandler and Barclays Raise Price Targets

Overview

• Piper Sandler lifted its Exxon Mobil target to $186 from $145 with an Overweight rating after increasing its mid‑cycle WTI forecast by $5 per barrel.
• Barclays raised its target to $163 from $145 and kept Overweight, arguing the market underestimates cash‑flow benefits that could support higher returns even if the price spike fades.
• Exxon Mobil opened Monday at $156.29, up 1.8%, putting shares near the 52‑week high of $159.60, following last week’s back‑to‑back target hikes.
• Piper Sandler’s commodity team projects 2026 crude balances tightening by about 2.0 million barrels per day versus prior expectations.
• Analysts cite the US–Iran conflict and reported Strait of Hormuz disruptions as drivers of multi‑year high oil prices, with WTI noted just below $100 per barrel in recent coverage.