Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Permian Resources (NYSE: PR) and the best and worst performers in the U.S. shale E&P industry.

US shale oil producers extract crude from tight rock formations using horizontal drilling and hydraulic fracturing (fracking) techniques, primarily in basins like the Permian, Bakken, and Eagle Ford. Tailwinds include short-cycle investment flexibility allowing rapid production adjustments, technological improvements enhancing well productivity, and proximity to refining and export infrastructure. Capital discipline has improved financial returns. Headwinds include commodity price sensitivity affecting drilling economics, accelerating well decline rates requiring continuous capital investment, and increasing regulatory and ESG scrutiny. Water usage, induced seismicity concerns, and evolving environmental regulations present ongoing operational challenges.

The 11 U.S. shale E&P stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.7%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.6% since the latest earnings results.

Permian Resources (NYSE: PR)

Controlling roughly 450,000 net acres in America's most productive oil patch, Permian Resources (NYSE: PR) is an oil and natural gas producer that drills wells and extracts hydrocarbons from underground reservoirs in West Texas and New Mexico.

Permian Resources reported revenues of $1.39 billion, flat year on year. This print fell short of analysts’ expectations by 0.7%. Overall, it was a slower quarter for the company with a miss of analysts’ EBITDA estimates.

Unsurprisingly, the stock is down 5% since reporting and currently trades at $20.14.

Is now the time to buy Permian Resources? Access our full analysis of the earnings results here, it’s free.

Best Q1: Chord Energy (NASDAQ: CHRD)

Holding the largest acreage position in the Williston Basin, Chord Energy (NASDAQ: CHRD) drills for and produces crude oil, natural gas liquids, and natural gas in North Dakota's Williston Basin.

Chord Energy reported revenues of $1.67 billion, up 37.1% year on year, outperforming analysts’ expectations by 33.1%. The business had an exceptional quarter with a beat of analysts’ EPS and EBITDA estimates.

Chord Energy achieved the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 7.3% since reporting. It currently trades at $138.35.

Is now the time to buy Chord Energy? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Texas Pacific Land (NYSE: TPL)

One of America's largest private landowners with roughly 868,000 acres in the Permian Basin, Texas Pacific Land (NYSE: TPL) owns land in West Texas and earns revenue from oil and gas royalties, water services, and land leases.

Texas Pacific Land reported revenues of $236.8 million, up 20.8% year on year, falling short of analysts’ expectations by 0.8%. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates.

As expected, the stock is down 4.8% since the results and currently trades at $399.70.

Read our full analysis of Texas Pacific Land’s results here.

Diamondback Energy (NASDAQ: FANG)

Sporting one of Wall Street's most memorable ticker symbols, Diamondback Energy (NASDAQ: FANG) drills for and produces oil and natural gas from underground rock formations in the Permian Basin of West Texas and New Mexico.

Diamondback Energy reported revenues of $4.24 billion, up 4.7% year on year. This print topped analysts’ expectations by 10.5%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is down 9.8% since reporting and currently trades at $192.75.

Read our full, actionable report on Diamondback Energy here, it’s free.

Cactus (NYSE: WHD)

Named for the spiky wellhead equipment that reminded founders of desert cacti, Cactus (NYSE: WHD) manufactures wellheads, valves, and spoolable pipes used in drilling and producing oil and gas wells.

Cactus reported revenues of $388.3 million, up 38.5% year on year. This number surpassed analysts’ expectations by 2.3%. It was a very strong quarter as it also produced a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The stock is up 2.7% since reporting and currently trades at $55.97.

Read our full, actionable report on Cactus here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.