Shares of Cactus Inc. (WHD) plummeted 5.11% in Friday's trading session following the company's disappointing second-quarter earnings report and a target price cut by Stifel. The oilfield services provider faced headwinds from softening North American oilfield activity and unexpected tariff pressures, leading to a significant decline in both revenue and earnings.

Cactus reported Q2 non-GAAP earnings per share of $0.66, falling short of analyst expectations of $0.72 and marking an 18.5% decrease from the $0.81 reported in the same quarter last year. The company's GAAP revenue also missed estimates, coming in at $273.6 million compared to the anticipated $278.8 million, representing a 5.8% year-over-year decline. The underwhelming results were primarily attributed to weakness in the Pressure Control segment, where revenue dropped 5.5% sequentially and 4.0% year-over-year.

Adding to investor concerns, Stifel cut its target price for Cactus Inc. from $57 to $53, reflecting a more cautious outlook on the company's near-term prospects. The reduction in target price, coupled with the earnings miss, likely contributed to the significant stock price decline. As Cactus continues to navigate challenges in its core markets, including unexpected tariff increases and softening demand in North America, investors will be closely watching the company's efforts to diversify internationally and mitigate margin pressures in the coming quarters.