ExxonMobil (NYSE:XOM) continued gains for a seventh straight session as the stock closed 0.43% higher, at $125.37 on Monday.

The Texas-based multinational oil and gas company gained 7.78% in the last six trading sessions. The stock has gained 25.22% so far this year, compared to an over 20% gain in the broader S&P 500 Index.

XOM is up 12% over the past one month. The stock closed 1.84% higher, at $124.83 on Friday.

Oil prices have jumped after the escalation of the Middle East crisis last week. Brent Crude is nearing $80 a barrel, the steepest weekly jump since March 2023, driven by fears of war escalations in the Middle East – on the back of reports that Israel could strike Iran’s oil industry, causing possible disruptions to oil exports, such as LNG shipments.

ExxonMobil (XOM) said last week that it can move ahead with its plan to cut jobs at its Port Jerome refinery in France after obtaining a majority agreement with unions.

Seeking Alpha’s Quant rating considers the stock a HOLD, with a score of 3.42 out of 5. It has given the stock an A+ in profitability, and D- on prospects of growth and valuation.

Turning to the Wall Street Community, 14 out of 27 analysts recommend BUY and above, 13 recommend HOLD, and none recommend SELL.

Seeking Alpha analysts are also bullish on the stock and have rated the stock a BUY.

According to analyst, JR Research, XOM’s recent surge is justified as the market was too pessimistic about its earnings growth prospects.

JR Research pointed out that Exxon has significant upstream assets to capitalize on as it lifts its production capacity, even if oil prices remain in a range, however, the analyst added that waiting for a more attractive buying opportunity seems wise.