ExxonMobil Stock Surged 17% in January -- Here's What Drove the Rally (and What You Really Need to Focus On)

By Reuben Gregg Brewer – Feb 22, 2026 at 10:05AM ESTKey PointsRising oil and natural gas prices helped push oil stocks higher in January. ExxonMobil is also executing well on its long-term growth plan.We’re bullish on these 10 stocks ›NYSE: XOMExxonMobilMarket Cap$614BToday's Changeangle-down(-2.58%) $3.90Current Price$147.07Price as of February 20, 2026 at 3:58 PM ETExxonMobil rallied in January and is still holding those gains, but what you really need to watch is the company's two-pronged growth plan.ExxonMobil (XOM 2.58%) is one of the world's largest integrated energy companies. With oil and natural gas prices rising in January, ExxonMobil's stock joined an industry-wide rally. The company's 17% price advance, however, is built on more than just oil prices. Here's why Exxon investors should be upbeat about the company's long-term outlook. Oil is up, Exxon is up Although Exxon's business spans the entire energy value chain, there's no way around the fact that oil and natural gas prices have a huge impact on investor perception of ExxonMobil stock.

With Brent Crude prices up around 17% in January, it is hardly surprising that Exxon's stock rose by a similar amount. Image source: Getty Images. That's the proximal cause of Exxon's advance, but it isn't the only fact that investors need to know about the business. Notably, Exxon reported earnings on Jan. 30. There were several very positive takeaways. Exxon is executing well on its two-prong growth plan At the top level, earnings were down year over year, largely due to weaker oil and gas prices. This helps explain why the January oil rally led to a price advance for Exxon. However, dig a little deeper, and you'll see that Exxon actually increased its production by roughly 9% in 2025, which is a big number. Notably, the company brought 10 projects online in the year. ExpandNYSE: XOMExxonMobilToday's Change(-2.58%) $-3.90Current Price$147.07Key Data PointsMarket Cap$614BDay's Range$146.46 - $150.8252wk Range$97.80 - $156.93Volume942KAvg Vol19MGross Margin21.56%Dividend Yield2.74% Producing more oil is how energy companies like Exxon grow over the long term. However, that's just the first prong of the company's growth plan. Management is also focusing on the most profitable oil opportunities it has, which it calls advantaged production. In 2025, advantaged production accounted for 59% of the company's total production, up seven percentage points from 2024. Exxon is getting bigger and better Oil prices are important -- and volatile. But the real reason to be excited about Exxon is that it is investing in its business to become a bigger and better company in the future. January provided the earnings evidence that it is achieving those ends. Sure, oil was the catalyst for the month-long rally, but don't let that overshadow the real story powering Exxon's long-term success. In the end, it is the fundamental strength of Exxon's business that will support its ability to continue paying a growing dividend. After over four decades of annual dividend increases, January's earnings release suggests that investors can comfortably collect Exxon's 2.7% yield with the expectation of more dividend growth to come.Read NextFeb 20, 2026 •By Courtney CarlsenAll It Takes Is $10,000 in ExxonMobil to Generate Hundreds in Annual Passive IncomeFeb 17, 2026 •By Matt DiLalloBeyond Tech Stocks: This Utility is Powering the Data Center Boom.Feb 11, 2026 •By Daniel FoelberI Predicted That ExxonMobil Would Join the $1 Trillion Club by 2030, But the Stock Is Already Up 24% in 2026. Is the High-Yield Dividend Stock Still a Buy Now?Feb 10, 2026 •By Courtney Carlsen2 Dividend Energy Stocks to Buy in FebruaryFeb 4, 2026 •By Reuben Gregg BrewerTrump Is Courting Chevron, ExxonMobil, and Others on Venezuela.

What It Could Mean for Your Energy Portfolio.​Feb 4, 2026 •By Matt DiLalloAll It Takes Is $3,000 in ExxonMobil to Generate Hundreds in Annual Passive IncomeAbout the AuthorReuben Gregg Brewer is a contributing Motley Fool stock market analyst covering energy, utilities, REITs, and consumer staples. He is the former director of research at Value Line Publishing, where he rose from mutual fund analyst to equity analyst before leading all research operations. Reuben holds a bachelor’s degree in psychology from SUNY Purchase, a master’s in social work from Columbia University, and an MBA from Regis University. He has been featured as a financial expert on CNBC and in the Financial Times, Barron’s, and InvestmentNews.TMFReubenGBrewerStocks MentionedExxonMobilNYSE: XOM$147.07 (2.58%) $3.90*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.