• Scotiabank reaffirms its "Outperform" rating for Exxon Mobil Corporation (NYSE:XOM) and increases its price target from $125 to $128.
• Exxon Mobil anticipates a significant boost in its third-quarter earnings for 2025, driven by higher oil prices and strong refining margins.
• Despite a 4% decline over the past year, the company's robust earnings forecast and strong refining margins could signal a turnaround.

Exxon Mobil Corporation (NYSE:XOM) is a leading global oil and gas company involved in the exploration, production, and distribution of energy products. On October 9, 2025, Scotiabank reaffirmed its "Outperform" rating for XOM, with the stock priced at $113.77. Scotiabank also increased its price target for Exxon Mobil from $125 to $128, indicating confidence in the company's future performance.

Exxon Mobil anticipates a significant boost in its third-quarter earnings for 2025, driven by higher oil prices and strong refining margins. The company expects an increase in earnings by up to $300 million due to these favorable conditions. This optimism is reflected in Scotiabank's decision to raise the price target, suggesting potential growth in the stock's value.

Despite these positive projections, Exxon Mobil's stock has experienced a 4% decline over the past year, underperforming the industry's composite gain of 1%. This underperformance may concern investors, but the company's robust earnings forecast could signal a turnaround. The current stock price of $113.98 shows a slight decrease of 0.04, or approximately -0.04%, in its value.

Exxon Mobil's Energy Products segment is expected to contribute significantly to its earnings, with forecasts ranging between $300 million and $700 million. This segment benefits from positive industry refining trends, which could further support the stock's performance. Investors should consider these factors when evaluating the potential of XOM as an investment opportunity.

The company's market capitalization stands at approximately $485.9 billion, reflecting its substantial presence in the energy sector. With a trading volume of 3,463,938 shares on the NYSE, Exxon Mobil remains a key player in the market. The stock's fluctuation between a low of $113.73 and a high of $115.51 today indicates active trading and investor interest.