New York, February 12, 2026, 10:59 AM ET — Regular session
- Exxon shares edged lower in morning trade, giving back some ground after Wednesday’s jump.
- The stock is now trading ex-dividend, with a quarterly payout set at $1.03.
- Oil prices slipped, pressured by the IEA cutting its demand forecast and a hefty build in U.S. crude inventories.
Exxon Mobil slipped 0.8% to $154.31 Thursday morning, trailing as crude prices pulled back and with some investors moving to the sidelines ahead of the dividend cutoff.
The stock goes ex-dividend on Thursday, taking a $1.03 quarterly payout off the table for anyone buying in today. That $1.03 is scheduled to hit accounts March 10. Typically, share prices drop by about the dividend’s value on the ex-date as eligibility for that cash disappears. 1
Oil prices slipped, weighing on the sector. Brent edged down roughly 0.6% to just under $69 a barrel, while U.S. West Texas Intermediate fell about 0.5% to $64.33. The International Energy Agency trimmed its demand outlook for 2026, and U.S. crude stockpiles surged by 8.5 million barrels last week—well above the figure projected in a Reuters poll. 2
The IEA now expects global oil demand to climb by 850,000 barrels a day this year, while projecting supply will outpace demand by 3.73 million bpd in 2026—a surplus that could drag prices lower if it continues. In its latest report, the agency also noted that OPEC+—which counts OPEC and partners like Russia among its members—has put output increases on hold for the first quarter. Eight members are slated to convene on March 1. 3
Even so, balance sheets aren’t the only thing driving prices. Vitol CEO Russell Hardy noted that “cracks are beginning to appear” in sanctioned flows. With limited destinations for Russian and Iranian barrels, he said, supply is getting tighter for the rest of the market. 4
Exxon stepped into the tech mix with a new, more targeted partnership on Thursday. Infosys announced it’s deepening work with ExxonMobil, expanding use of ExxonMobil’s immersion cooling fluids—these keep servers from overheating by dunking them in special non-conductive liquids—integrated with Infosys’ AI and cloud services. “Reducing data center energy costs and carbon emissions” is the goal, said Ashiss Kumar Dash, an executive at Infosys. For ExxonMobil, the deal puts its thermal-management chops to use in digital infrastructure, according to product solutions marketing exec Alistair Westwood. 5
Oil stocks in the U.S. saw mixed action: Chevron slipped 0.3%, ConocoPhillips rose 0.5%. Exxon’s move, though, stood apart from the pack—less about the sector, more about the company itself.
Traders pressing their bets on Thursday’s action should beware: ex-dividend moves can muddy the picture. If crude spikes on geopolitical headlines, energy shares could rally in a heartbeat. A sharper demand jolt, or fresh inventory surges, though—those would probably slam the sector worse than the wider market.
Feb. 20 is circled on the Exxon calendar. That’s when the company’s putting out its refreshed “Company Overview and Investment Case” presentation — investors will be parsing it for new signals on supply, demand, and capital return expectations. 6
