A couple of analysts reiterated their rating and price forecast on ExxonMobil Corporation (NYSE:XOM) following its third-quarter earnings reported last week.

The company reported third-quarter 2025 earnings of $8.1 billion, or $1.88 per share, topping analyst expectations of $1.47.

Total production reached 4.8 million oil-equivalent barrels per day, up 139,000 oil-equivalent barrels per day sequentially, led by record production in Guyana and the Permian assets.

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JPMorgan View

Analyst Arun Jayaram notes that ExxonMobil disclosed $2.4 billion in inorganic investments, including Permian Basin acreage and a carbon materials asset acquisition.

The analyst says that most of the inorganic spend likely relates ...