New York, Jan 17, 2026, 10:34 EST — Market closed
- Exxon Mobil shares ended Friday 0.59% higher, closing at $129.89, hovering close to the upper end of their recent trading range
- Oil edged up heading into the U.S. long weekend as traders scrambled to cover bearish positions
- Attention turns to fresh Caribbean exploration efforts and Exxon’s upcoming quarterly report on Jan. 30
Exxon Mobil Corp shares (XOM) ended Friday up 0.59%, closing at $129.89. The stock fluctuated between $128.87 and $130.16 during the session, settling just below its 52-week peak of $131.72.
Wall Street closed mostly flat before the long weekend, with the S&P 500 slipping 0.06% and the Dow dropping 0.17%. The U.S. stock market will be closed on Monday in observance of Martin Luther King Jr. Day, so trading resumes on Tuesday.
Oil prices edged up Friday as some investors closed short positions ahead of the three-day weekend, with ongoing concerns about Iran adding tension. Brent finished at $64.13 a barrel, while U.S. West Texas Intermediate ended at $59.44. Phil Flynn from Price Futures Group noted traders were keen to avoid being “caught short over the long weekend.” Meanwhile, Phillip Nova analyst Priyanka Sachdeva said Brent seemed stuck in a range “between $57 and $67,” showing no clear sign of demand picking up. Reuters
Exxon is set to release its fourth-quarter results on Jan. 30, followed by an earnings call that same morning, per the company’s investor relations calendar. This will be the next major event to watch, with oil prices dominating headlines until then.
Exxon has hired Shearwater Geoservices to conduct a 3D seismic survey across roughly 6,000 square kilometers of its deepwater territory offshore Trinidad and Tobago, Reuters reported. The survey, which uses sound waves to map underground rock formations, is slated to begin in early 2026 and last about five months. It will cover water depths ranging from 2,000 to 3,000 meters. This follows Exxon’s signing of a production-sharing agreement with Trinidad’s government last August.
In retail fuels, software firm Comarch announced a new contract with ExxonMobil to roll out a loyalty platform across key European markets. Otto Nijdam, ExxonMobil’s EAME loyalty and digital marketing manager, described Europe as “a critical market for us.” Stefan Pavlovic added the upgrade would make the program “more dynamic” and “future-ready.” PR Newswire
Scotiabank’s Paul Cheng cut his price target on Exxon to $128 from $155 but maintained an Outperform rating, according to TipRanks. The analyst update came as the bank revised targets for major U.S. oil companies. The note flagged investor attention on whether recent market volatility might alter 2026 guidance or prompt new cost-cutting measures from producers.
Exxon detailed some figures in a Jan. 7 securities filing, revealing that lower prices for liquids — including crude, condensate, and natural gas liquids — could drag fourth-quarter results down by $0.8 billion to $1.2 billion compared to Q3. Gas prices might cause anything from a $0.3 billion loss to a $0.1 billion gain. The company also plans to release its results around 5:30 a.m. CT on Jan. 30.
Exxon’s dual nature shows in its stock, with upstream profits climbing alongside crude prices, even as refining and chemical margins often pull in the opposite direction. Investors are closely tracking both segments, especially after a turbulent week for oil prices.
Yet the factors pushing oil higher can reverse quickly. A thaw in Middle East tensions or a surge in supply could drag crude prices down and weigh on energy stocks. The Trinidad survey marks a beginning, not a breakthrough, and spending on exploration doesn’t ensure fresh reserves.
Investors will get their next look at Exxon Mobil’s stock price when U.S. markets reopen Tuesday, with oil prices leading the way. The key date to watch is Jan. 30, when Exxon releases its quarterly results and hosts its earnings call—events likely to shape investor expectations around 2026 risk and cash flow.
