NEW YORK, Feb 4, 2026, 11:17 ET — Regular session
- Exxon shares climbed roughly 1.6% in late-morning trading, staying close to their intraday peak.
- Oil prices held firm as renewed Middle East tensions spotlight the Strait of Hormuz once again.
- Traders are eyeing Friday’s U.S.-Iran talks in Oman alongside Exxon’s dividend record date set for Feb. 12.
Exxon Mobil shares climbed 1.6% to $146.02 by late morning Wednesday, having peaked at $146.17 earlier. Chevron also advanced 1.6%, while ConocoPhillips ticked up 1.7%.
This shift is significant since energy is back in the spotlight. When crude prices spike due to geopolitical tensions, major oil stocks usually act like a fast hedge — easy to trade, straightforward, and directly linked to cash flow.
Exxon kept its momentum going after hitting a fresh 52-week high Tuesday, closing up 3.85% at $143.73 despite a weaker overall market. Volume surged to roughly 37 million shares, more than twice its 50-day average, MarketWatch reported.
Oil prices held steady Wednesday after earlier gains triggered by the U.S. downing an Iranian drone and Iranian armed boats nearing a U.S.-flagged ship, stirring fresh concerns over Strait of Hormuz shipping. Brent ticked up about 0.1% to $67.38 a barrel, while U.S. West Texas Intermediate slipped 2 cents to $63.19. “Oil would be lower without Middle Eastern sabre-rattling,” analysts at PVM noted. (Reuters)
Crude jumped about 2% on Tuesday amid a fresh wave of headlines. Bob Yawger, director of energy futures at Mizuho, noted, “The diplomatic effort to avoid a U.S. military strike in Iran is unravelling.” Traders also zeroed in on estimates showing U.S. crude inventories dropped by more than 11 million barrels last week, based on sources citing American Petroleum Institute data. (Reuters)
Exxon reported $6.5 billion in fourth-quarter earnings last week, translating to $1.53 per share. Free cash flow, the cash remaining after operational and growth expenses, hit $5.6 billion. CEO Darren Woods commented, “ExxonMobil is a fundamentally stronger company than it was just a few years ago.” The company announced a $1.03-per-share dividend, payable March 10 to shareholders of record on Feb. 12, and outlined plans to buy back $20 billion of stock through 2026, conditions permitting. (Exxon Mobil Corporation)
On Feb. 3, Senior Vice President Neil A. Hansen submitted a Form 3, the SEC’s initial insider holdings statement, revealing ownership of 241,500 shares of Exxon common stock.
Right now, the tape is following a familiar pattern in oil: major integrated producers mirror the benchmarks. Exxon’s blend of production, refining, and chemicals helps buffer volatility within its operations, yet the stock remains tethered to crude prices when news breaks quickly.
Crude has swung wildly this week, caught between Washington and Tehran’s mixed signals of confrontation and negotiation. If tensions ease clearly, the risk premium could vanish from prices. A steep drop in Brent or WTI would probably drag energy stocks back down with it.
Traders are set to scrutinize the U.S.-Iran talks in Oman on Friday, focusing on the shipping lanes through the Strait of Hormuz. Meanwhile, Exxon investors have a closer date to watch: Feb. 12, the record date for the upcoming $1.03 dividend.
