HOUSTON, July 4, 2026, 10:04 CDT
- ExxonMobil Holdings Corporation NYSE:XOM ended Thursday at $137.09, wrapping its debut session after taking over as the new public parent from Exxon Mobil Corporation.
- The stock added 0.40% for the holiday week. LSEG estimates, according to Reuters, show second-quarter adjusted net income at about $15.9 billion.
- Brent’s forward curve slipped heading into the weekend, putting fresh doubt on whether the profit rebound will last.
ExxonMobil Holdings Corporation NYSE:XOM started trading as the new public parent of the Exxon oil group, ending Thursday up 0.59% at $137.09 after a July 1 redomiciliation that moved the parent to Texas, while keeping the NYSE “XOM” ticker. The SEC filing showed each old ExxonMobil share converted into one share of ExxonMobil Holdings, with the new parent now taking ExxonMobil’s spot as the listed company on the New York Stock Exchange. Equisolve
NYSE-listed shares were closed Friday as U.S. markets were shut for Independence Day on July 3. That meant Thursday’s close was the last trading mark ahead of the weekend, so the new parent company only got a four-day debut, not a full week.
Exxon (XOM) barely budged, up 0.40% from $136.54 at the June 26 close to $137.09 on Thursday. That’s as Reuters said analysts see Exxon posting around $15.9 billion in adjusted net profit for the second quarter, more than three times its first-quarter haul. First-quarter earnings excluding special items were $4.9 billion.
| Exxon investor read-through | Latest data |
|---|---|
| Closed Thursday | $137.09, up 0.59% |
| Change for holiday week | +0.40% from June 26 close to July 2 |
| Market cap | $568.23 billion |
| LSEG Q2 adj. net income estimate, Reuters | Roughly $15.9 billion |
| Q2 as % of cap | 2.8%, estimate from Reuters over Google Finance cap |
| Q1 earnings ex. items | $4.9 billion |
The price-profit gap is key here, since the redomiciling didn’t alter anyone’s stake in the business. According to an SEC filing, former ExxonMobil shareholders ended up with the same number and percentage of shares after the merger; only their shareholder rights shifted over to Texas law.
Exxon trailed the gains in other big oil names Thursday, suggesting the market saw the parent-company switch as just paperwork, not a new reason to pick up shares.
| Security | Last U.S. quote | Thursday move |
|---|---|---|
| ExxonMobil Holdings Corporation NYSE:XOM | $137.09 | up 0.59% |
| Chevron Corp NYSE:CVX | $169.20 | gained 2.12% |
| Shell PLC NYSE:SHEL | $78.02 | added 1.91% |
| BP PLC NYSE:BP | $37.40 | rose 3.47% |
| State Street Energy Select Sector SPDR ETF (NYSEARCA:XLE) | $53.22 | up 0.81% |
Chevron, Shell, BP and the top U.S. energy ETF all moved ahead of Exxon in Thursday trading, latest quote data showed. Exxon saw 13.71 million shares trade hands, trailing the 17.81 million average volume listed on Google Finance.
Oil’s pricing kept investors on the sidelines for the earnings estimates. Reuters said Friday that front-month Brent slipped under longer-dated prices this week as the Strait of Hormuz saw more crude shipments, pushing prompt supply higher. The six-month Brent spread turned negative Wednesday for the first time this year, dropping to minus 56 cents a barrel Thursday. It bounced back to a slight premium Friday.
“The front of the curve is taking the hit,” said David Jorbenaze, ICIS global oil markets lead. Nitesh Shah, commodity strategist at WisdomTree, said storage demand could see some support since “inventories have already been depleted during the war period.” Reuters
UBS lowered its Brent crude outlooks Thursday, citing increased oil shipping through Hormuz as a reason. The bank dropped its Q3 Brent forecast by $25 to $80 per barrel, cut its Q4 estimate by $10 to $80, and trimmed its 2027 call by $10 to $75.
That’s the question for Exxon this week. Q2 profits look strong, but a good chunk comes from refining margins and tight supplies tied to war. Those drivers might not hold up. Reuters reported U.S. gasoline crack spreads averaged around $25 a barrel for Q2, up about $16 from last quarter. Diesel cracks increased about $15 to $45.
Politics puts more weight on sentiment. Reuters said Friday that Exxon and Chevron earnings could be more than three times higher than in the first quarter, even as President Donald Trump pushes Big Oil to cut gasoline prices. Exxon told Reuters it had no comment.
Buybacks could still bring the stock up to the profit estimate. BMO Capital Markets analysts told Reuters they see oil firms picking up repurchases in the second half of 2026. Exxon reported in May it gave back $9.2 billion to shareholders in Q1, with $4.9 billion in buybacks, and said it was on track for $20 billion in share repurchases in 2026 if market conditions hold.
Exxon CEO Darren Woods called the company “a fundamentally stronger company” after first-quarter numbers, saying it’s built to perform “across market cycles.” The coming cycle kicks off Monday, July 6, as U.S. stock trading reopens. The next EIA weekly petroleum report hits July 8. Exxon Mobil Corporation
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