Analyst Sees More Upside for Exxon, Chevron After 25% Gains
ExxonMobil has gained nearly 28% and Chevron about 25% so far in 2026. Despite the strong performance, one analyst thinks there is still more upside for Big Oil stocks.
Key Numbers
ExxonMobil (XOM) has risen nearly 28% year-to-date in 2026, while Chevron (CVX) has gained about 25% over the same period, according to data from Stocktwits. Despite these substantial gains, one analyst believes Big Oil stocks still have further upside potential.
Analyst Optimism
The analyst, unnamed in the original report, argues that the fundamental drivers supporting the sector this year remain intact, which could push stocks higher. Key factors include strong global energy demand and continued supply constraints from the OPEC+ alliance, which support oil prices and thus company profits.
Stock Performance
- ExxonMobil (XOM): Up 28% year-to-date.
- Chevron (CVX): Up 25% year-to-date.
Broader Context
The optimistic outlook comes amid a strong overall performance for the energy sector, buoyed by rising crude oil prices. However, analyst opinions vary; some warn that the large gains could make stocks vulnerable to profit-taking if oil prices retreat.
What It Means for Investors
The analyst suggests that investors who have not yet entered may find an opportunity to capitalize on the current momentum, but advises monitoring oil price developments and OPEC+ decisions closely. He also notes that valuations remain reasonable compared to other sectors.
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