The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Chord Energy (NASDAQ: CHRD) and the rest of the u.s. shale e&p stocks fared in Q1.
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%.
In light of this news, share prices of the companies have held steady as they are up 1.3% on average since the latest earnings results.
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. This print exceeded analysts’ expectations by 33.1%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS and EBITDA estimates.
Chord Energy scored the biggest analyst estimates beat of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.5% since reporting and currently trades at $143.98.
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, outperforming analysts’ expectations by 10.5%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 5.7% since reporting. It currently trades at $201.53.
Is now the time to buy Diamondback 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 4.1% since the results and currently trades at $402.71.
Read our full analysis of Texas Pacific Land’s results here.
Riley Exploration Permian (NYSE: REPX)
Operating in counties where legacy oil fields have been producing since the early 1900s, Riley Exploration Permian (NYSE: REPX) drills for and produces oil and natural gas from horizontal wells in the Permian Basin of West Texas and New Mexico.
Riley Exploration Permian reported revenues of $113.9 million, up 11.2% year on year. This number beat analysts’ expectations by 3.7%. Zooming out, it was a slower quarter as it recorded a significant miss of analysts’ EBITDA and EPS estimates.
The stock is up 15.5% since reporting and currently trades at $38.60.
Read our full, actionable report on Riley Exploration Permian here, it’s free.
Northern Oil and Gas (NYSE: NOG)
Taking the path less traveled in the oil industry by choosing not to operate its own wells, Northern Oil and Gas (NYSE: NOG) acquires minority stakes in oil and gas wells operated by other companies across major U.S. shale basins.
Northern Oil and Gas reported revenues of $526.5 million, down 11.1% year on year. This print surpassed analysts’ expectations by 3.1%. Taking a step back, it was a slower quarter as it produced a significant miss of analysts’ EBITDA estimates.
The stock is down 12.3% since reporting and currently trades at $24.17.
Read our full, actionable report on Northern Oil and Gas 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 Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
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