ExxonMobil (XOM) Stock Jumps as Oil Rockets Past $90 on Iran Strike
TLDR
- Brent crude jumped over 2% above $90 per barrel on August 31 after US strikes on Iranian rocket launchers in the Strait of Hormuz
- XOM opened at $156.88, with the average analyst price target sitting at $166.10
- Q2 2026 EPS came in at $3.52, up from $1.64 a year ago, but missed the $3.56 consensus
- TD Cowen raised its price target on XOM to $168 with a Buy rating on August 7
- ExxonMobil declared a quarterly dividend of $1.03 per share, a 2.6% yield, payable September 10
ExxonMobil (XOM) stock opened at $156.88 on August 31, 2026, as Brent crude pushed back above $90 per barrel following fresh US military strikes on Iranian rocket launchers in the Strait of Hormuz.
Oil benchmarks gained more than 2% in early trading after the US confirmed strikes on Iranian positions, with Iran responding with retaliatory action targeting US military sites. The Strait of Hormuz is one of the worldโs most important oil transit routes, and any disruption there tends to move energy stocks fast.
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