Saudi Aramco Kept at Buy as United Securities Notes Q2 Results

06:41 AM EDT, 08/26/2026 (MT Newswires) -- United Securities LLC maintained its buy rating on Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, with a price target of 31 Saudi riyals, following the release of the oil giant's second-quarter results. Thanks to improved pricing and refining margins, the state-owned company logged a 41.9% year-over-year rise in net income to 122 billion riyals. Revenue, meanwhile, increased 19% year over year to 451 billion riyals, according to a Wednesday note. "Saudi Aramco benefitted from the ongoing geopolitical uncertainty, which resulted in its realized crude oil prices increasing by over 60% YoY in 2Q26. This more than made up for the lower volumes on account of the disruption in supply. The uncertainty in the market continues and is likely to remain a key driver in its performance in the short term. We expect the average crude prices will remain elevated providing head room for financial performance. While the company has taken steps to alleviate the supply constraint, this is likely to remain, as the flexibility available to the company in the short run remains limited," analysts wrote.