dailyloe.com – Citi analyst Alastair Syme raised Exxon Mobil’s price target to $175 from $150 on April 2. The firm maintained a Neutral rating on the stock. This adjustment reflects a broader sector repricing linked to Middle East tensions.
The conflict is seen as lowering the cost of equity for oil and gas firms. This dynamic is pushing price targets higher across the energy industry. Citi also noted potential for structural investor re-engagement into the sector.
Citi identified TotalEnergies, ConocoPhillips, and BP as its top picks. The analysis was detailed in a recent research note from the firm. The report directly ties geopolitical risk to financial reassessments.
Separately, the Golden Pass LNG project produced its first liquefied natural gas. This joint venture is between QatarEnergy and Exxon Mobil. The milestone occurred at its Texas facility on March 30.
The project is a major step for US LNG export capabilities. The first cargo shipment is expected in the second quarter of 2026. Global gas supplies are tightening due to Middle East output disruptions.
QatarEnergy owns a 70% stake in the Golden Pass venture. Exxon Mobil holds the remaining 30% share of the project. The first production unit, Train 1, adds 6 million tonnes per annum of capacity.
Based on the ownership split, QatarEnergy will receive just over 4 mtpa. Exxon Mobil’s share will be just under 2 mtpa from the train. The company stated this progress reflects a focus on safe operations.
Exxon Mobil remains one of the world’s largest publicly traded energy corporations. The company is also listed among top consistent dividend stocks. Its strategic projects are advancing despite a volatile geopolitical landscape.[]
Source: Yahoo Finance
