Analysts set SAR 30.23 target for Saudi Aramco stock

Published on 10/02/2026 at 12:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted net income hit USD 33.40 billion in Q2 2026, up 33.00 percent. For Saudi Aramco stock, the target is SAR 30.23.

Saudi Aramco, SA14TG012N13, Illustration mit AI erstellt.

Saudi Aramco (ISIN SA14TG012N13) carries a SAR 30.23 average price target from an 18-analyst consensus dated September 20, 2026, according to TS2 Tech. The target stands 19.58 percent above the SAR 25.28 last price on the Tadawul on October 1, 2026, based on the finance quote and the consensus figure.

Profit growth supports the target

Adjusted net income reached USD 33.40 billion in the second quarter of 2026, up 33.00 percent from the year-earlier period, according to Yahoo Finance. The same source reported a second-quarter base dividend of USD 21.90 billion, up 3.50 percent year over year.

Aramco's investor-relations page reported first-half 2026 adjusted net income of SAR 251.9 billion and free cash flow excluding working capital of SAR 226.0 billion. The figures are non-IFRS measures, and the company also reported first-half hydrocarbon production of 11.0 million barrels of oil equivalent per day, according to Aramco.

Dividend remains a central valuation factor

Saudi Aramco paid a second-quarter base dividend of SAR 82.06 billion, or SAR 0.3393 per share, on August 27, 2026. Arab News reported that the distribution increased 3.50 percent year over year and made Aramco the world's largest corporate dividend payer in the second quarter.

The cash-return profile matters because the consensus target depends on both earnings growth and distribution capacity. The published analyst range spans SAR 26.80 to SAR 35.00, placing the average target above the lower end by SAR 3.43.

Next results arrive in November

Saudi Aramco's next earnings date is listed as November 2, 2026, by Investing.com. Investors will receive a fresh test of profit, cash flow and dividend coverage when the third-quarter report is published.

Saudi Aramco's market capitalization was SAR 6.1 trillion on October 1, 2026. Its 52-week Tadawul range was SAR 23.29 to SAR 27.96, leaving the October 1 last price of SAR 25.28 between the two reference points.