Exxon Mobil Corporation's stock advanced more than 2% on Friday, settling at $149.05 and marking a fresh 52-week peak. The gain coincided with a rally in broader equity indices and an uptick in crude oil benchmarks.
Market and Sector Drivers
The Dow Jones Industrial Average closed above the 50,000 milestone for the first time, while the S&P 500 and Nasdaq Composite also posted significant gains. The energy sector was notably strong, with Brent crude oil rising 0.74% to $68.05 per barrel. Market participants are monitoring geopolitical developments in the Middle East, including U.S.-Iran negotiations, for their impact on supply risks.
Upcoming Catalysts for Exxon
Investor attention now turns to several near-term events. Exxon Mobil has set its dividend record date for February 12, with a quarterly payout of $1.03 per share scheduled for March 10. The company also plans to update its corporate presentation on February 20.
A packed U.S. economic calendar could influence market direction. Key releases include the January jobs report on February 11 and Consumer Price Index inflation data on February 13. Additionally, the weekly petroleum status report from the U.S. Energy Information Administration, due February 11, will be closely watched by energy traders.
Supporting the sector, a potential strike at refineries was averted after the United Steelworkers union ratified a new national contract covering approximately 30,000 workers.
Analysts note that Exxon's stock, trading near the top of its recent range, remains sensitive to shifts in oil prices and broader market sentiment. Any easing of supply concerns or hawkish economic data could introduce volatility for the energy giant in the coming sessions.
