NOV

It has been about a month since the last earnings report for USA Compression Partners (USAC). Shares have added about 6.9% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is USA Compression due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. USA Compression Partners reported second-quarter 2026 adjusted net profit of 31 cents per common unit, beating the Zacks Consensus Estimate of 24 cents. The metric improved from the year-ago quarter’s net profit of 22 cents per common unit, driven by a year-over-year increase in revenue-generating capacity. The largest independent provider of natural gas compression services generated revenues of $342.1 million, improving 36.8% from the year-ago quarter’s level and beating the Zacks Consensus Estimate by 0.7%. This growth was aided by higher contract operations revenues and higher revenues from the sale of parts and services. USAC’s contract operations revenues were $304.9 million, up 34% year over year, driven primarily by the addition of J-W's horsepower and average revenue per revenue-generating horsepower. Parts and service revenues were $22.1 million, reflecting the manufacturing and aftermarket services activity that J-W brought to the platform. The Dallas, TX-based oil and gas equipment and services company’s adjusted EBITDA increased 29.2% to $193.2 million from $149.5 million in the prior-year quarter. Distributable cash flow rose to $125.3 million from $89.9 million in the year-ago period. The company reported net income of $45.7 million compared with $28.6 million in the year-ago quarter. USAC reported net operating cash flow of $145.7 million in the second quarter, up from the prior-year quarter’s $124.2 million. The company’s revenue-generating capacity increased year over year to 4.45 million horsepower from 3.55 million horsepower. Moreover, the figure exceeded our estimate of 4.26 million horsepower. Adjusted gross operating margin of 63.5% marked a decrease from the year-ago period’s 65.4%. Further, the average monthly revenue per horsepower rose to $22.84 from $21.31 in the second quarter of 2025. However, the figure missed our estimate of $24.20 million average monthly revenue per horsepower. USA Compression’s average quarterly horsepower utilization rate was 92%, down from the year-ago quarter’s 94.4%. USA Compression’s distributable cash flow available to limited partners totaled $125.3 million, providing 1.65x distribution coverage, up from the year-ago level of 1.4x. The company reported $241.8 million in costs and expenses, up from $173.5 million in the year-ago quarter. It spent $46.8 million on growth capex. Maintenance capex amounted to $16.9 million. As of June 30, 2026, USA Compression had net long-term debt of $2.9 billion. The partnership had $536.9 million of remaining unused availability under its revolving credit facility. USA Compression reaffirmed its full-year 2026 outlook. The company expects adjusted EBITDA to be between $770 million and $800 million. It also expects distributable cash flow to range from $480 million to $510 million, expansion capital expenditures to be between $230 million and $250 million, and maintenance capital expenditures to total in the band of $60 million to $70 million. In the past month, investors have witnessed a downward trend in estimates review. The consensus estimate has shifted 12% due to these changes. Currently, USA Compression has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, USA Compression has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. USA Compression is part of the Zacks Oil and Gas - Mechanical and and Equipment industry. Over the past month, Nov Inc. (NOV), a stock from the same industry, has gained 11.3%. The company reported its results for the quarter ended June 2026 more than a month ago. Nov Inc. reported revenues of $2.13 billion in the last reported quarter, representing a year-over-year change of -2.5%. EPS of $0.31 for the same period compares with $0.29 a year ago. For the current quarter, Nov Inc. is expected to post earnings of $0.24 per share, indicating a change of +118.2% from the year-ago quarter. The Zacks Consensus Estimate has changed -4.1% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Nov Inc.. Also, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report USA Compression Partners, LP (USAC) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

NOV Inc. recently reported second-quarter 2026 adjusted earnings of US$0.31 per share, above analyst expectations, driven by strong Energy Equipment performance, offshore contract wins, and wider adoption of its proprietary technologies. The Board also declared a regular quarterly cash dividend of US$0.09 per share, underscoring the company’s willingness to return cash to shareholders alongside its operational momentum. We’ll now examine how NOV’s earnings beat, supported by offshore contract wins, may influence the company’s existing investment narrative and risk balance. Invest in the nuclear renaissance through our list of 92 elite nuclear energy infrastructure plays powering the global AI revolution. NOV’s story still rests on investors believing that offshore and international activity can support its Energy Equipment franchise while the company works to improve margins from relatively low levels. The Q2 earnings beat and solid offshore wins support that near term catalyst, but they do not fully resolve key risks around pricing pressure, order volatility and exposure to structurally weaker North American land spending. The most relevant recent announcement here is the Board’s decision to maintain the regular US$0.09 quarterly dividend. Alongside ongoing share repurchases, this signals that management is comfortable continuing capital returns even as profit margins remain thin and earnings have been affected by one off items, which directly intersects with the risk that rising costs and lower pricing power could strain cash generation. Yet against that, investors should still keep a close eye on how persistent tariffs and cost inflation could quietly reshape NOV’s risk profile over the next few years... Read the full narrative on NOV (it's free!) NOV's narrative projects $9.6 billion revenue and $540.4 million earnings by 2029. This requires 3.5% yearly revenue growth and about a $445 million earnings increase from $95.0 million today. Uncover how NOV's forecasts yield a $22.08 fair value, a 5% upside to its current price. Before this earnings beat, the most optimistic analysts were already expecting revenues near US$9.9 billion and earnings around US$651 million, which is far more upbeat than consensus and may look either more achievable or more stretched depending on how you view the risks around accelerating renewables, regulation and long term oilfield demand. Explore 3 other fair value estimates on NOV - why the stock might be worth as much as 59% more than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your NOV research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision. Our free NOV research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NOV's overall financial health at a glance. These stocks are moving-our analysis flagged them today. Act fast before the price catches up: Uncover the next big thing with 22 elite penny stocks that balance risk and reward. The latest GPUs need a type of rare earth metal called Dysprosium and there are only 30 companies in the world exploring or producing it. Find the list for free. The future of work is here. Discover the 38 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NOV. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

NOV (NOV) declared a regular quarterly cash dividend of $0.09 per share, with shareholders of record on September 11, 2026, set to receive payment on September 25, 2026. The dividend decision comes after NOV reported second quarter 2026 adjusted earnings that exceeded estimates and highlighted new offshore contracts and broader use of its proprietary technologies. Over the past year, the share price return has been strong, and the 1 year total shareholder return of 61.75% suggests momentum has been positive rather than fading. Scan 44 high quality undervalued stocks that, like NOV, pair earnings strength and established cash returns through dividends for investors watching both momentum and current income potential. NOV shares have climbed sharply over the past year yet still trade at a double digit intrinsic discount and below analyst targets. Is the market rightly cautious about the recovery story, or slow to reprice it? NOV last closed at $20.99, while the most followed narrative places fair value at $22.08. That small gap comes from detailed forecasts for growth, margins, and future returns that stretch out over several years. Read the complete narrative. Read the complete narrative. Want to see what sits behind that fair value for NOV? The narrative highlights steadily rising revenues, higher margins, and a lower future earnings multiple than many peers. Curious how those moving pieces add up to that $22.08 figure? Result: Fair Value of $22.08 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, NOV's story still hinges on offshore and Middle East activity meeting expectations, while tariffs, inflation, and volatile orders could pressure revenue and margins. Find out about the key risks to this NOV narrative. While NOV screens as 36.9% below the Simply Wall St estimate of future cash flow value at $33.27, its P/E ratio of 78.8x is far above the US Energy Services industry average of 26x and the fair ratio of 27.4x. That gap points to meaningful valuation risk if expectations reset. Which signal do you weigh more heavily? Investors who want to stress test that earnings-based view against other metrics can review a detailed valuation breakdown with peer and fair ratio comparisons in the See what the numbers say about this price — find out in our valuation breakdown. Mixed on NOV after all that, or leaning one way already? Act quickly, review the data for yourself, and weigh NOV's 2 key rewards and 3 important warning signs. Do not stop with NOV alone. Fresh ideas can sharpen your decisions and help you spot opportunities that others ignore across income, quality, and overlooked potential. Target reliable cash flow by scanning companies built around steady payouts through the 12 dividend fortresses. Hunt for mispriced quality by checking the 19 high quality undiscovered gems before the wider market catches on. Prioritise resilience and sleep better at night by reviewing the 74 resilient stocks with low risk scores now. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NOV. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

NOV stock has delivered a 78.1% total return over the past 5 years, yet its current valuation checks offer a mixed message, with an intrinsic value estimate pointing to potential undervaluation while market multiples lean the other way. A 78.1% gain over 5 years suggests NOV has already rewarded patient shareholders and may now require closer scrutiny of what is priced in. Future cash flow from NOV's energy equipment and services can support the valuation if execution and capital discipline stay on track, but any pressure on project activity or margins may limit how much value those cash flows create for equity holders. NOV screens as expensive on most broad checks, with a low value score of 2 out of 6, while the Discounted Cash Flow (DCF) intrinsic value estimate suggests the stock trades at about a 36.9% discount. The issue now is whether NOV's current share price around US$20.99 already reflects its cash flow potential, or if the intrinsic value case points to mispricing that patient investors may benefit from over time. Spot opportunities beyond NOV by scanning a hand picked list of other value candidates in the current market through the 45 high quality undervalued stocks. The Discounted Cash Flow (DCF) model here uses cash flow projections to estimate what NOV could be worth based on the cash it generates for shareholders. NOV has latest twelve month free cash flow of about $580.7 million, and the model assumes these cash flows keep growing from this base rather than shrinking. On those inputs, the DCF output suggests an intrinsic value of about $33 per share, compared with the current share price near $20.99. That gap implies a sizeable margin between what the cash flows support and what the market is currently willing to pay. For readers, the key point is that this is a two stage free cash flow to equity model, so the outcome is sensitive to both the growth path in the next decade and the discount rate applied. Even so, the 36.9% implied discount is large enough that NOV screens as meaningfully undervalued under these assumptions. On this DCF view, NOV stock appears undervalued relative to the cash flows analysts expect it to generate. Our Discounted Cash Flow (DCF) analysis suggests NOV is undervalued by 36.9%. Track this in your watchlist or portfolio, or discover 45 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for NOV. The P/E ratio is a common yardstick for NOV because earnings remain a key driver of how investors frame the stock. On this lens, NOV currently trades on a P/E of 78.8x, compared with about 26.0x for the wider Energy Services industry and roughly 41.6x for peers. The fair P/E ratio that adjusts for NOV's profile is estimated at 27.4x. That is far below the current 78.8x, so the stock carries a large premium to what this framework suggests would be reasonable. Even allowing for company specific factors or differing views on earnings quality, the gap is wide enough that investors are paying a high price for each dollar of NOV earnings at today's share price. On the P/E multiple, NOV stock appears expensive relative to both its industry and the modelled fair ratio. See what the numbers say about this price — find out in our valuation breakdown. NOV's Simply Wall St Narratives pick up where the valuation puzzle leaves off by making clear which expectations for growth, margins and earnings would need to hold for the stock to be worth materially more or less than today's price, and they sit on the company's Community page. Each narrative links a specific fair value estimate to a concrete story about NOV's potential catalysts and risks, so you can track over time which scenario is actually unfolding. NOV's community views pull in opposite directions, with one scenario leaning on offshore recovery potential and the other focused on energy transition risk. Bull case: roughly fairly valued Read the full Bull Case to see why NOV could be undervalued Bear case: 23% overvalued Read the full Bear Case to see why NOV could be overvalued Do you think there's more to the story for NOV? Head over to our Community to see what others are saying! NOV sits at a crossroads. The Discounted Cash Flow (DCF) intrinsic value estimate points to undervaluation, while the market multiple view flags the stock as overvalued on earnings. That split reflects a clash between what NOV might deliver in future cash flows and what investors are already paying today for growth and sentiment. The broad checks are weak despite the supportive DCF signal, so the key question is whether NOV can convert its project pipeline and capital discipline into cash flows strong enough to justify both the current P/E and any potential re rating in the years ahead. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NOV. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

It has been about a month since the last earnings report for Nov Inc. (NOV). Shares have added about 6.1% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Nov Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. In the second quarter, NOV repurchased approximately 3.2 million shares of common stock for a total of $63 million. The company also returned $64 million in dividends, resulting in a total of $127 million in capital to its shareholders during the quarter. Energy Products and Services: The unit reported second-quarter revenues of $974 million, which beat our estimate of $951 million, driven by market share gains by the segment’s drill bit and artificial lift operations and continued growth in digital services. However, the figure decreased from the prior-year quarter’s reported number by 5% due to lower capital equipment sales. Adjusted EBITDA of $144 million beat our estimate of $110 million but decreased from $146 million in the corresponding period of 2025. Energy Equipment: Revenues in this segment increased marginally by 1% year over year to $1.22 billion, beating our estimate by 2.7%. Adjusted EBITDA of $200 million increased from the year-earlier quarter’s $158 million and beat our estimate of $145 million. Strong execution on offshore production projects, which are nearing completion, and a more favorable sales mix drove the improvement in the company’s revenues and profitability. In the second quarter of 2026, the segment registered $474 million in new orders. Shipments from the backlog amounted to $638 million, resulting in a book-to-bill ratio of 74. As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year. As of June 30, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. NOV had $1.5 billion available on its primary revolving credit facility during the same time. The company generated an operating cash flow of $17 million and a negative free cash flow of $64 million in this quarter. NOV’s broad operational and technology achievements underscore its strong position in offshore energy, drilling automation and digital solutions. The company secured multiple contracts for production processing equipment, seawater treatment systems, FPSO topside modules and subsea structures across key offshore markets, including West Africa, Indonesia, Suriname, Brazil and Southeast Asia, reinforcing its leadership in offshore infrastructure. NOV also expanded adoption of its proprietary technologies, such as Bondstrand fiberglass piping, Delta drill pipe connections, Zap-Lok pipeline systems and XLC-S connectors, reflecting strong customer demand for safer, more efficient and high-performance solutions. The company advanced its digital transformation strategy by deploying AI-enabled equipment diagnostics, remote rig monitoring and real-time data acquisition through its Max Platform while strengthening its capabilities with the acquisitions of Rigsmart and Cranesmart. In addition, growing orders for ATOM RTX robotics, NOVOS automation systems and Downhole Broadband Solutions demonstrate increasing industry demand for automation, real-time drilling intelligence and productivity-enhancing technologies that improve operational efficiency, safety and drilling performance across global energy markets. For the third quarter of 2026, NOV expects year-over-year consolidated revenues to increase by up to 2%, with adjusted EBITDA expected to be between $240 million and $270 million. NOV expects third-quarter 2026 performance to improve sequentially, assuming operating conditions in the Middle East remain broadly consistent with those seen in the second quarter. Management forecasts both sequential and year-over-year revenue growth, supported by stronger activity across key markets, healthy free cash flow generation in the second half of the year and continued benefits from operational efficiency initiatives. The Energy Equipment segment is expected to post revenues that are 1-3% lower year over year, with EBITDA in the range of $160-$190 million, as growth in drilling capital equipment and aftermarket services is partly offset by the completion of several large projects. Meanwhile, the Energy Products and Services segment is projected to deliver stronger performance, with revenues rising 5-7% year over year and EBITDA of $130-$150 million, driven by seasonal Eastern Hemisphere demand, improved backlog conversion in drill pipe and composite solutions, and market share gains from differentiated technologies. The guidance excludes any additional IEEPA tariff refunds and reflects management's expectation of continued operational discipline, margin improvement and stronger cash generation in the second half of 2026. In the past month, investors have witnessed a downward trend in fresh estimates. The consensus estimate has shifted -6.7% due to these changes. At this time, Nov Inc. has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for value investors. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Nov Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOV Inc. (NOV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Solaris Energy Infrastructure, Inc. SEI reported second-quarter 2026 adjusted earnings of 39 cents per share, up 14.7% year over year, and beat the Zacks Consensus Estimate of 31 cents by 25.81%. The outperformance was driven by the exceptional results of the Power Solutions segment. Revenues of $219 million increased 47% year over year and topped the consensus estimate of $198 million by 10.78%, driven by higher leasing and service revenues. The company’s leasing and service revenues increased 70.8% and 30% year over year, respectively. Solaris Energy Infrastructure, Inc. price-consensus-eps-surprise-chart | Solaris Energy Infrastructure, Inc. Quote Net income reported by SEI was $25.2 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $108.3 million, up from $60.6 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a lift in Logistics profitability. On Aug. 4, 2026, the company’s board of directors approved a third-quarter 2026 dividend of 12 cents per share, payable on Sept. 25 to its shareholders of record as of Sept. 15. Solaris Power Solutions:Power Solutions revenues increased to $158.3 million compared with $75.6 million in the year-ago period. Capacity earning revenues in the segment averaged 950 MW during the quarter. Adjusted EBITDA from the segment increased to $96.4 million, driven by increased ancillary service revenues. Solaris Logistics Solutions: Logistics Solutions delivered revenues of $61 million, decreasing 17.2% from the year-ago period. Adjusted EBITDA from the segment increased year over year to $24.7 million, driven by increased system activity and a more favorable project mix. Solaris Energy expanded three long-term contracts that are expected to add more than $100 million of annual adjusted EBITDA. The expanded Hatchbo agreement now covers a turnkey, roughly 660-MW power plant, including balance-of-plant equipment, batteries and operating services. The contract term was extended to as long as 18 years, and revenues are expected to begin in January 2027. SEI also broadened the scope of its April 2026 agreement with a global technology customer to include balance of plant, energy storage and natural gas procurement and management. Separately, a large energy customer increased contracted microgrid capacity to about 80 MW from 60 MW and extended the agreement to six years from four years. The acquisition of Global Energy Services Alliance, or GESA, expands SEI’s installation, commissioning, operations, maintenance and aftermarket capabilities. GESA added more than 600 skilled employees and brings project experience spanning more than 30 countries. Management sees the acquisition as a way to improve project execution while expanding third-party service opportunities. Solaris Energy also has approximately 800 MW of open capacity with relatively near-term delivery timelines and said it is in advanced discussions with multiple customers regarding long-term deployments. For the third quarter of 2026, the Zacks Rank #5 (Strong Sell) company raised adjusted EBITDA guidance to $90-$105 million from $80-$95 million previously, and established fourth-quarter adjusted EBITDA guidance of $100-$120 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. At quarter-end, Cash and cash equivalents attributable to Solaris Energy were $888.5 million, while long-term debt attributable to SEI (net of current portion) was $1.6 billion, with a debt-to-capitalization of 58%. During the quarter, the company completed an inaugural $1.3 billion senior, unsecured notes offering and secured a new, undrawn $650 million credit facility. While we have discussed SEI’s second-quarter results in detail, let’s see how some other oilfield service companies have fared this earnings season. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the backlog for Energy Equipment capital orders was $4.1 billion, reflecting a $220 million decrease from the prior year. Liberty Energy Inc. LBRT reported a second-quarter 2026 adjusted net profit of 9 cents per share, beating the Zacks Consensus Estimate of 7 cents. The outperformance was driven by the company’s focus on AI-driven technology advancements and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 12 cents due to increased year-over-year costs and expenses. LBRT's revenues totaled $1.2 billion, which beat the Zacks Consensus Estimate of $1.1 billion. The top line also increased from the prior-year quarter’s $1 billion by 14%, supported by record utilization and a modest pricing uplift along with higher product sales. As of June 30, Liberty Energy had approximately $555.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $1.3 billion represented a debt-to-capitalization of 39.5%. Further, the company’s total liquidity, including availability under the credit facility, amounted to $1 billion. Oceaneering International, Inc. OII reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement. Total revenues of $768.2 million increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions. As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Solaris Energy Infrastructure, Inc. (SEI) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Liberty Energy Inc. (LBRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

U.S. energy operator APA Corporation APA reported second-quarter 2026 adjusted earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.85. The bottom line rose from the year-ago adjusted profit of 87 cents. The outperformance was primarily driven by higher realized oil prices and lower year-over-year expenses. Revenues of $2.4 billion were down 8.2% from the year-ago quarter’s sales and missed the Zacks Consensus Estimate by 1.5%, caused by a decrease in natural gas revenues. APA Corporation price-consensus-eps-surprise-chart | APA Corporation Quote Meanwhile, APA continues to reward its shareholders, having paid out $189 million through dividends and share repurchases during the second quarter of 2026. Production of oil and natural gas averaged 409,959 BOE/d, which comprised 69% liquids. The figure was down 11.8% from the year-ago quarter but surpassed our expectation of 404,982 BOE/d. U.S. output (accounting for 64% of the total) fell 9.2% year over year to 263,187 BOE/d, but production from the company’s international operations decreased 16.2% to 146,772 BOE/d. APA’s oil and natural gas liquids (NGLs) production was 284,605 barrels per day (Bbl/d). Natural gas output totaled 752,125 thousand cubic feet per day (Mcf/d). The average realized crude oil price during the second quarter was $98.24 per barrel, up almost 50% from the year-ago realization of $65.58. The number also significantly surpassed our projection of $76.35. The average realized natural gas price fell to 60 cents per thousand cubic feet (Mcf) from $2.28 in the year-ago period and missed our estimate of $2.03. APA’s second-quarter lease operating expenses totaled $353 million, down 3.8% from $367 million in the year-ago period. Moreover, proceeds from purchased oil/gas of $122 million meant that total operating expenses decreased nearly 29.2% from the corresponding period of 2025 to $1.1 billion. The number was below our model projection of $1.4 billion. During the quarter under review, APA generated $1.7 billion of cash from operating activities while it incurred $546 million in upstream capital expenditures. The Zacks Rank #3 (Hold) company registered a free cash flow of $738 million compared to $134 million a year ago. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. As of June 30, APA had $444 million in cash and cash equivalents and $3.7 billion in long-term debt, representing a debt-to-capitalization of 34.8%. For full-year 2026, APA has raised its U.S. oil production guidance to 123,000 barrels per day while keeping its U.S. capital spending plan unchanged at $1.3 billion. Total upstream capital investment is projected at $2.07 billion, with exploration spending slightly lower due to the timing shift of exploration activities at Suriname Block 58. Meanwhile, lease operating expense guidance has been reduced by $25 million to $1.5 billion, reflecting continued cost-saving initiatives. While we have discussed APA’s second-quarter results in detail, let us take a look at three other key reports in this space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. The Williams Companies, Inc. WMB reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments. The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales. As of June 30, 2026, the company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report APA Corporation (APA) : Free Stock Analysis Report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Permian Resources Corporation PR reported second-quarter 2026 adjusted earnings of 69 cents per share, beating the Zacks Consensus Estimate of 56 cents by 23.2%. The bottom line also increased significantly from the year-ago quarter’s adjusted earnings of 27 cents. This outperformance was primarily driven by higher oil and NGL price realizations. The company’s oil and gas sales of $1.86 billion beat the Zacks Consensus Estimate of $1.64 billion by 13.3%. Revenues also increased from the year-ago quarter’s $1.2 billion, aided by a higher year-over-year contribution from oil sales, NGL sales and purchased gas sales during the quarter. Permian Resources Corporation price-consensus-eps-surprise-chart | Permian Resources Corporation Quote On Aug. 5, 2026, the Midland, TX-based exploration and production company declared a quarterly base dividend of 16 cents per Class A common share, translating to an annualized dividend of 64 cents. The payout is scheduled for Sept. 30 for its shareholders on record as of Sept. 16. Permian Resources reported total average production of 376.4 thousand barrels of oil equivalent per day (MBoe/d), comprising 53% oil and 76% liquids, in the second quarter, down from 385.1 MBoe/d in the year-ago period. The figure missed the Zacks Consensus Estimate of 395,272 Boe/d. Crude oil production averaged 198.1 thousand barrels per day (MBbls/d), up from 176.5 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 194.8 MBbls/d. Oil production increased, driven primarily by successful ground-game initiatives, which boosted the average working interest in second-quarter completions by 7% above the company’s initial expectations. Production also benefited from a more than 50% quarter-over-quarter increase in high-return workover projects. NGL production came in at 86.2 MBbls/d, down 11.9% year over year. It also missed the Zacks Consensus Estimate by 11.2%. Meanwhile, natural gas production totaled 552.9 million cubic feet per day (MMcf/d), down 16.8% year over year, and missed the Zacks Consensus Estimate by 11.1%. Permian Resources’ average realized oil price was $97.81 per barrel in the second quarter, compared with $62.71 in the year-ago quarter. Moreover, the figure beat the consensus mark of $94 per barrel. The realized NGL price was $23.28 per barrel, up from $17.75 a year ago, and beat the consensus mark of $22.16 per barrel. The company’s realized natural gas price was negative $2.40 per Mcf, in contrast to a positive 50 cents in the prior-year quarter. The consensus mark for the same was pegged at a negative of $2.41 per Mcf. Including hedges and purchased gas sales, the realized natural gas price was 38 cents per Mcf, compared with 76 cents a year ago. Total operating expenses in the quarter rose to $929.9 million from $900.1 million in the year-ago quarter. Lease operating expenses totaled $189.9 million, up from $187.9 million in the year-ago quarter. Severance and ad valorem taxes rose to $143.7 million from $94.9 million a year earlier and the Exploration and other expenses also rose to $9.8 million from $5.1 million in the year-ago quarter. On a per-unit basis, Lease operating expenses increased to $5.55 per Boe from $5.36 a year ago. PR generated $1.5 billion of net cash provided by operating activities in the second quarter, compared with $1 billion in the year-ago quarter. Adjusted operating cash flow totaled $1.3 billion, while adjusted free cash flow came in at $750.7 million. Cash capital expenditures were $521.4 million, up from the prior-year period’s capital expenditures of $505 million. The company’s capital-efficient operating model supported strong free cash flow generation despite continued investment in development and bolt-on acquisitions. As of June 30, 2026, PR had $131.7 million in cash and cash equivalents. The company had a long-term debt of approximately $3 billion, reflecting a debt-to-capitalization of 20%. Permian Resources has raised its 2026 oil production target to 199 MBbls/d, up 10 MBbls/d from its initial February guidance. The increase reflects higher working interest from successful ground-game activities, greater workover activity and production from the Ward County bolt-on acquisition. The company expects average working interest to exceed 80% for the full year, while second-half oil production is projected to exceed 200 MBbls/d. To support the higher production outlook, Permian Resources increased its 2026 cash capital expenditure guidance to $1.9-$2 billion, including about $25 million related to the Ward County acquisition. The revised full-year plan calls for total production of 400,000-430,000 Boe/d, oil production of 197,000-201,000 Bbls/d and approximately 250 gross operated TILs, with average lateral lengths of about 11,000 feet. Controllable cash costs are expected at $7.15-$8.15 per Boe, including lease operating expenses of about $5.45, gathering, processing and transportation costs of approximately $1.40, and cash G&A of around 80 cents per Boe. Overall, this Zacks Rank #3 (Hold) company’s updated plan reflects higher production and capital spending while maintaining a focus on capital efficiency and operational growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed PR’s second-quarter results in detail, let us take a look at three other key reports in this space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. The Williams Companies, Inc. WMB reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments. The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales. As of June 30, 2026, the company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Permian Resources Corporation (PR) : Free Stock Analysis Report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Transocean Ltd. RIG reported a second-quarter 2026 adjusted earnings of 3 cents per share, beating the Zacks Consensus Estimate of 1 cent. The bottom line also improved from the year-ago quarter’s breakeven adjusted earnings. The outperformance was supported by exceptional performance of the Harsh environment floaters that delivered higher revenues, stronger fleet utilization, improved revenue efficiency and higher average daily revenues. The Switzerland-based offshore drilling contractor’s contract drilling revenues of $966 million surpassed the Zacks Consensus Estimate of $939 million by 2.9%. This was backed by higher-than-expected revenues from harsh environment floaters, which beat the consensus mark of $274.3 million. However, the top line decreased 2.2% from the year-ago quarter’s reported figure of $988 million due to lower revenues from the Ultra-deepwater floaters. Transocean Ltd. price-consensus-eps-surprise-chart | Transocean Ltd. Quote Adjusted EBITDA was $312 million, down from $344 million in the year-ago period and $440 million in the first quarter of 2026. However, the figure beat our model estimate of $260.9 million. Adjusted EBITDA margin was 32.2% compared with 34.9% in the year-ago quarter and 40.7% in the prior quarter. Ultra-deepwater floaters accounted for about 64.5% of total contract drilling revenues, while harsh environment floaters contributed the remaining 35.5%. Transocean’s ultra-deepwater floaters generated revenues of $623 million in the reported quarter, down from $699 million in the year-ago period and $748 million in the prior quarter. Moreover, the figure missed our model estimate of $665 million. Harsh environment floaters contributed $343 million, compared with $289 million in the year-ago quarter and $333 million in the first quarter of 2026. Moreover, the figure beat our model estimate of $274.3 million. Revenue efficiency was 97%, down from 97.3% in the previous quarter but up from 96.6% in the year-ago period. Ultra-deepwater revenue efficiency reduced to 95.7% from 96.7% a year ago, while harsh environment revenue efficiency came in at 99.5%, improving both sequentially and year over year. Average daily revenues increased to $472,500 from $458,600 in the year-ago quarter but decreased from $475,600 in the prior quarter. The figure beat our estimate of $443,900. Average daily revenues from ultra-deepwater floaters decreased to $455,500 from $457,200 a year ago. However, the figure beat our estimate of $446,800. The metric for harsh environment floaters increased to $510,000 from $462,400 in the prior-year quarter. The figure also beat our estimate of $437,200. Fleet utilization improved to 78.2% from 67.3% in the year-ago period. Ultra-deepwater utilization was 72.6%, while harsh environment utilization reached 94.2%. As of Aug. 5, 2026, Transocean’s total backlog was approximately $6.7 billion. Since its May 2026 fleet status report, the company added five new fixtures, representing nearly $292 million of incremental backlog at a weighted average day rate of about $461,000. The company reported costs and expenses of $812 million, which were 1.3% lower than the year-ago quarter’s level of $823 million. Additionally, depreciation and amortization costs decreased to $148 million from $175 million a year ago. The oil and gas drilling company spent $24 million on capital investments in the second quarter. Cash used in operating activities was $236 million. Cash and cash equivalents were $509 million as of June 30, 2026. Long-term debt amounted to $4.7 billion, with a debt-to-capitalization of 36.1% as of the same period. For the third quarter of 2026, this Zacks Rank #3 (Hold) company expects contract drilling revenues in the range of $920-$960 million. Fleet-wide revenue efficiency is projected at 96.5%. Operating and maintenance expenses are expected to be between $595 million and $625 million, while general and administrative expenses are projected at $45 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The company expects $113 million in interest expense, while interest income is projected to be $5 million to $10 million. Capital expenditures are estimated at $40 million to $50 million and cash taxes paid are expected to be between $25 million and $30 million during the same period. For the full-year 2026, RIG expects contract drilling revenues to be between $3900 million and $3975 million. Operating and maintenance expenses are projected between $2325 million and $2400 million, while general and administrative expenses are anticipated in the $170-$180 million range. Capital expenditures are expected to be around $150 million, while year-end liquidity is projected between $1.25 billion and $1.35 billion. Full-year cash taxes paid are expected to range from $55 million to $60 million. While we have discussed RIG’s second-quarter results in detail, let us take a look at three other key reports in this space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, 2026, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. The Williams Companies, Inc. WMB reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments. The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales. As of June 30, 2026, the company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Transocean Ltd. (RIG) : Free Stock Analysis Report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The Williams Companies, Inc. WMB reported second-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago period’s level of 46 cents, driven by better-than-expected performance of its Transmission, Power & Gulf, Northeast G&P and West segments. The Tulsa, OK-based oil and gas storage and transportation company’s revenues of $3 billion missed the Zacks Consensus Estimate by $2 million. The figure increased by 9.8% from the year-ago quarter’s reported revenues. This can be attributed to higher service revenues and increased product sales. Williams Companies, Inc. (The) price-consensus-eps-surprise-chart | Williams Companies, Inc. (The) Quote Adjusted EBITDA totaled $1.9 billion in the quarter under review, which was up 6% year over year. Cash flow from operations amounted to $1.4 billion, down 5.1% from the corresponding quarter of 2025. Williams Companies has agreed to acquire Momentum Midstream in a deal worth up to $5.5 billion, strengthening its Haynesville footprint and expanding its integrated natural gas infrastructure to meet rising Gulf Coast LNG, power and industrial demand. Momentum adds more than 4,000 miles of pipelines, 6 Bcf/d gathering capacity and key processing assets, with the deal expected to boost AFFO and EPS. Williams Companies also announced the Delta Aces and Shelby Trough Connector expansions, positioning the company to capture growing natural gas demand and enhance basin connectivity. Transmission, Power & Gulf: The segment reported an adjusted EBITDA of $959 million, up 6.2% from the year-ago quarter’s level. The increase was driven by contributions from projects placed in service, new Gulf volumes and higher storage revenues. However, the figure missed the Zacks Consensus Estimate by 2.5%. Northeast G&P: Driven primarily by higher volumes at Ohio Valley Midstream and higher proportional EBITDA from Blue Racer Midstream and Bradford within Appalachia Midstream, this segment registered an adjusted EBITDA of $540 million. This represents a 7.8% increase from $501 million in the year-earlier quarter. It beat the Zacks Consensus Estimate of $518 million. West: This segment focuses on the gathering and processing of assets in the Western United States. Adjusted EBITDA for this segment totaled $359 million, up 5.3% from the prior-year quarter’s level of $341 million. Strong results were fueled by Louisiana Energy Gateway, placed into service in third-quarter 2025, as well as higher gathering volumes, including contributions from the 2025 Rimrock and Saber acquisitions. However, the figure missed the Zacks Consensus Estimate of $389 million. Gas & NGL Marketing Services: The segment posted a negative adjusted EBITDA of $1 million, narrowing down from the year-ago negative EBITDA of $15 million, resulting from higher gas marketing margins due to winter storms. The Zacks Consensus Estimate for the same was pegged at a negative $7.27 million. Other: This segment posted an adjusted EBITDA of $64 million, representing a 17.9% decrease from $78 million in the year-earlier quarter, caused by unfavorable changes in net realized results from upstream operations, including the impact of the divested South Mansfield interests. However, the figure beat the Zacks Consensus Estimate of $57 million. In the reported quarter, total costs and expenses of $1.9 billion increased by about 2% from the year-ago quarter’s figure. Total capital expenditure (capex) was $1.8 billion. As of June 30, 2026, this Zacks Rank #3 (Hold) company had cash and cash equivalents of $203 million and long-term debt of $28.1 billion, with a debt-to-capitalization of 64.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Williams Companies raised its 2026 guidance and now expects adjusted EBITDA of $8.3-$8.5 billion, with growth capital expenditures projected at $7.3-$7.9 billion. Factoring in the pro forma contribution from the Momentum Midstream acquisition over the past four quarters, the company expects its 2026 leverage ratio to be approximately 3.75x at the midpoint. The growth capex and debt-to-adjusted EBITDA guidance exclude certain reimbursable long-lead equipment costs. While we have discussed WMB’s second-quarter results in detail, let us take a look at three other key reports in this space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. Core Laboratories Inc. CLB reported second-quarter 2026 adjusted earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 8 cents, driven by outperformance of the Production Enhancement segment. However, the bottom line decreased from the year-ago quarter’s reported figure of 19 cents due to the underperformance of the Reservoir Description segment and increased costs and expenses. This oilfield service provider reported second-quarter operating revenues of $124.6 million, missing the Zacks Consensus Estimate of $128 million and decreasing from the earlier-year quarter’s reported figure of $130.1 million. This can be attributed to military conflicts in the Middle East and the Russia-Ukraine region, which disrupted energy infrastructure, delaying projects, disrupting crude oil trade and reducing demand for the company's international laboratory services. As of June 30, 2026, the company had cash and cash equivalents of $22.7 million and long-term debt of $113.9 million. CLB’s debt-to-capitalization was about 29%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report Core Laboratories Inc. (CLB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Diamondback Energy, Inc. FANG reported second-quarter 2026 adjusted earnings per share (EPS) of $6.48, which beat the Zacks Consensus Estimate of $5.96 and more than doubled from the year-ago adjusted profit of $2.67. The outperformance was driven by production growth and a 53.1% improvement in the year-over-year realized oil prices. This Midland, TX-based oil and gas exploration and production company’s revenues of $5.6 billion increased more than 51% from the year-ago quarter and topped the Zacks Consensus Estimate by about 17%, fueled primarily by higher sales of oil, natural gas and natural gas liquids, increased sales of purchased oil and higher revenues from other operating income. Diamondback Energy, Inc. price-consensus-eps-surprise-chart | Diamondback Energy, Inc. Quote In the second quarter of 2026, Diamondback Energy generated free cash flow and adjusted free cash flow of $2.3 billion. Over the same period, it bought back nearly 756,385 common shares for roughly $141 million at an average price of $186.63 per share, excluding excise taxes. In July, the board of directors increased the company's share repurchase authorization from $8 billion to $16 billion, effectively doubling the program's capacity. Following this increase, approximately $9.9 billion remains available for future share repurchases under the authorization. FANG’s board of directors approved a base quarterly dividend of $1.10 per common share for the second quarter of 2026, payable on Aug. 20 to its stockholders of record on Aug. 13. FANG’s production of oil and natural gas averaged 1,017,659 barrels of oil equivalent per day (BOE/d), comprising 51.6% oil. The figure was up 10.6% from the year-ago quarter and beat our model estimate of 969,519.9 BOE/d. While crude and natural gas output increased 5.9% and 16.5% year over year, respectively, natural gas liquids volumes climbed 15.7%. The average realized oil price during the quarter was $96.82 per barrel, 53.1% higher than the year-ago realization of $63.23. The figure also beat our estimate of $66.12 per barrel. Meanwhile, the average realized natural gas price decreased to a negative $2.15 per thousand cubic feet from 88 cents in the prior year. The figure was also below our model estimate of 60 cents. Overall, the upstream oil and gas company fetched $51.68 per barrel compared with $39.61 a year ago. Diamondback Energy’s second-quarter cash operating cost was $10.96 per BOE compared with $10.10 in the prior-year quarter and our estimate of $12.56. The increase in costs compared with the year-ago period reflected a rise in lease operating expenses to $5.96 per BOE from $5.26 in the second quarter of 2025 and an increase in Production and ad valorem taxes to $3.26 per BOE from $2.56 in the prior-year quarter. However, FANG’s gathering, processing and transportation expenses decreased 29.5% year over year to $1.22 per BOE. Cash G&A expenses also fell in the second quarter of 2026 to 52 cents per BOE from 55 cents in the corresponding period of 2025. Diamondback Energy logged $996 million in capital expenditure — spending $842 million on operated drilling and completion additions to oil and natural gas properties, and $154 million on non-operated additions. The company booked $2.3 billion in adjusted free cash flow in the second quarter. As of June 30, the Permian-focused operator had approximately $462 million in cash and cash equivalents and $11.1 billion in long-term debt, representing a debt-to-capitalization of 20.1%. Diamondback Energy updated its 2026 guidance by raising its full-year oil production outlook to more than 522 MBO/d, up from the previous guidance of more than 520 MBO/d, and increasing its total production forecast to over 1,000 MBOE/d from more than 972 MBOE/d. The company maintained its full-year cash capital expenditure guidance at approximately $3.9 billion. For the third quarter of 2026, this Zacks Rank #3 (Hold) company expects oil production to range between 517 MBO/d and 527 MBO/d, with total combined production projected at 995-1,015 MBOE/d. Third-quarter cash capital expenditures are expected to be between $950 million and $1.05 billion. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. While we have discussed FANG’s second-quarter results in detail, let us take a look at three other key reports in the energy space. Expand Energy Corporation EXE reported second-quarter 2026 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate of $1.22. The company’s bottom line increased from the year-ago adjusted profit of $1.10 per share, fueled by strong production and lower operating expenses. Expand Energy’s ‘natural gas, oil and NGL’ revenues of $1.8 billion missed the Zacks Consensus Estimate of $2 billion. The top line was also below the year-ago figure of $2 billion. As of June 30, 2026, the company had $663 million in cash and cash equivalents. Expand Energy had a long-term debt of $3.7 billion, reflecting a debt-to-capitalization of 16%. NOV Inc. NOV reported second-quarter 2026 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 16 cents. The bottom line also increased 6.9% from the year-ago quarter’s 29 cents, driven by outperformance of the Energy Equipment segment. The oil and gas equipment and services company’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by $39 million. However, NOV’s revenues fell 2.5% from the year-ago quarter’s figure of $2.2 billion due to lower year-over-year revenues from the Energy Products and Services segment. As of June 30, the company had cash and cash equivalents of $1.2 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.3%. Core Laboratories Inc. CLB reported second-quarter 2026 adjusted earnings of 11 cents per share, which beat the Zacks Consensus Estimate of 8 cents, driven by outperformance of the Production Enhancement segment. However, the bottom line decreased from the year-ago quarter’s reported figure of 19 cents due to the underperformance of the Reservoir Description segment and increased costs and expenses. This oilfield service provider reported second-quarter operating revenues of $124.6 million, missing the Zacks Consensus Estimate of $128 million and decreasing from the earlier-year quarter’s reported figure of $130.1 million. This can be attributed to military conflicts in the Middle East and the Russia-Ukraine region, which disrupted energy infrastructure, delaying projects, disrupting crude oil trade and reducing demand for the company's international laboratory services. As of June 30, 2026, the company had cash and cash equivalents of $22.7 million and long-term debt of $113.9 million. CLB’s debt-to-capitalization was about 29%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report Core Laboratories Inc. (CLB) : Free Stock Analysis Report NOV Inc. (NOV) : Free Stock Analysis Report Expand Energy Corporation (EXE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research