Goldman Sachs Sets $169 Exxon Mobil Target Despite Refining Margin Boost

Key Facts

1Goldman Sachs analyst Neil Mehta set a $169 price target for Exxon Mobil, suggesting a potential 4.7% downside.

2Exxon Mobil expects higher refining margins to add $4.5 billion to its third-quarter earnings.

3The company signaled lower overall third-quarter earnings due to the impact of oil prices on its upstream business.

Goldman Sachs analyst Neil Mehta set a $169 price target for Exxon Mobil XOM, suggesting a potential 4.7% downside according to Financial Modeling Prep. Simultaneously, the company expects higher refining margins to contribute $4.5 billion to its third-quarter earnings as reported by Barron's, though it signaled to Reuters that overall quarterly profits might decline due to the impact of oil prices on its upstream business.

Exxon Mobil XOM was trading at $177.53 on October 16, 2026, remaining above the Goldman Sachs target level. Among industry peers, Chevron CVX closed at $219.39, Shell SHEL at $103.55, and BP at $48.44 on October 15, 2026. Within the financial sector, Goldman Sachs GS was trading at $891.28 as of its October 15, 2026 close.