Shares of Exxon Mobil Corp. (XOM) moved higher on Monday, catching a lift as energy stocks led a broader market rally. The gains came amid renewed geopolitical tensions tied to the escalating U.S.-Israel-Iran conflict, which has a funny way of putting a little extra risk premium back into global oil prices.

But there was more to the story than just macro jitters. Separately, and arguably more importantly for the long term, a big joint venture project just hit a major milestone.

A Golden Milestone for LNG

Golden Pass LNG, a joint venture between QatarEnergy (which owns 70%) and ExxonMobil (holding the other 30%), has produced its first liquefied natural gas. This comes from the first of three planned "trains" at its massive 18 million tons per annum export project.

Think of this as lighting the pilot light on a very, very large stove. Back in 2019, the partners decided to go all-in, making a final investment decision that exceeded $10 billion to develop this export facility. Now, with first production achieved, the project is positioned to actually start shipping LNG cargoes from its Sabine Pass, Texas facilities. The companies expect those exports to begin in the second quarter of 2026.

Meanwhile, in Guyana...

ExxonMobil isn't just sitting around waiting for 2026. Last week, the company's affiliate in Guyana, ExxonMobil Guyana Limited, awarded a contract to SBM Offshore (SBMOY). The job? To carry out Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading (FPSO) vessel for something called the Longtail development project.

SBM Offshore will develop this vessel through its Fast4Ward program, using its ninth new-build hull along with standardized topside modules. The specs are, in a word, huge: the vessel will be designed to handle 1,200 million cubic feet of gas per day and produce 250,000 barrels of condensate daily. It will be moored in about 1,750 meters of water and capable of storing around two million barrels of condensate. That's not a side project; that's a major capital undertaking.

Reading the Charts on XOM

So, with all this project news, how's the stock actually doing? Quite well, thank you. Exxon is trading 10.4% above its 20-day simple moving average and 29.5% above its 100-day average, which keeps the longer-term trend pointed firmly higher. Shares are up 45.53% over the past 12 months and are sitting at the top of their 52-week range after setting a fresh high.

The Relative Strength Index (RSI) is at 76.30, which puts the stock in what traders call overbought territory. That raises the odds of a pause or a pullback if the current momentum cools off. On the other hand, the Moving Average Convergence Divergence (MACD) indicator remains bullish, suggesting the trend-followers still have the wind at their backs. The combination hints at mixed momentum—strong trend, but maybe getting a little tired.

• Key Support: $147.50

What the Analysts Think and What's Next

The countdown is on for the next earnings report. Exxon Mobil is scheduled to report on April 10.

• EPS Estimate: $1.77 (Up from $1.76 year-over-year)
• Revenue Estimate: $85 billion (Up from $83.13 billion YoY)
• Valuation: P/E of 25.5x (Indicates a premium valuation relative to peers)

The analyst consensus currently carries a Buy rating with an average price target of $145.23. Recent moves from the big banks include:

• Morgan Stanley: Overweight (Raised target to $172 on March 27)
• HSBC: Hold (Raised target to $158 on March 20)
• Mizuho: Neutral (Raised target to $162 on March 17)

ETF Exposure: The Automatic Buyers and Sellers

Because ExxonMobil is such a giant, it shows up as a major holding in several exchange-traded funds. That means flows into or out of these ETFs can force automatic buying or selling of the stock. Some of the key funds with heavy exposure include:

• First Trust Nasdaq Oil & Gas ETF (FTXN): 9.21% Weight
• Cohen & Steers Natural Resources Active ETF (CSNR): 5.78% Weight
• Strive Natural Resources and Security ETF (FTWO): 6.90% Weight

Exxon Mobil shares were up 1.07% at $172.82 at the time of publication on Monday, according to market data.