Let’s dig into the relative performance of Crescent Energy (NYSE: CRGY) and its peers as we unravel the now-completed Q4 U.S. shale E&P earnings season.

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 mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.2%.

Luckily, U.S. shale E&P stocks have performed well with share prices up 18.1% on average since the latest earnings results.

Crescent Energy (NYSE: CRGY)

Controlling over 1.4 million net acres across proven U.S. basins, Crescent Energy (NYSE: CRGY) extracts oil and natural gas from underground reservoirs in Texas and the Rocky Mountains.

Crescent Energy reported revenues of $865 million, down 1.2% year on year. This print exceeded analysts’ expectations by 1.6%. Despite the top-line beat, it was still a mixed quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 31.4% since reporting and currently trades at $13.55.

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

Best Q4: Matador Resources (NYSE: MTDR)

Operating primarily in the Delaware Basin where multiple oil-bearing layers lie stacked thousands of feet deep, Matador Resources (NYSE: MTDR) explores for, drills, and produces oil and natural gas from underground rock formations in New Mexico and Texas.

Matador Resources reported revenues of $848 million, down 12.6% year on year, outperforming analysts’ expectations by 4.7%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 28.4% since reporting. It currently trades at $64.89.

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

Weakest Q4: HighPeak Energy (NASDAQ: HPK)

Operating in the oil-rich northeastern corner of the Midland Basin where Howard and Borden counties meet, HighPeak Energy (NASDAQ: HPK) explores for, develops, and produces crude oil, natural gas liquids, and natural gas.

HighPeak Energy reported revenues of $216.6 million, down 23.3% year on year, exceeding analysts’ expectations by 13.7%. Still, it was a softer quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

HighPeak Energy delivered the biggest analyst estimates beat but had the slowest revenue growth in the group. Interestingly, the stock is up 30.6% since the results and currently trades at $7.64.

Read our full analysis of HighPeak Energy’s results here.

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 $1.17 billion, down 9.8% year on year. This result missed analysts’ expectations by 7.4%. Zooming out, it was actually a satisfactory quarter as it put up a beat of analysts’ EPS estimates.

The stock is up 22.3% since reporting and currently trades at $21.53.

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

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 $97.28 million, down 5.3% year on year. This print came in 8.4% below analysts' expectations. It was a softer quarter as it also recorded a significant miss of analysts’ EBITDA estimates.

Riley Exploration Permian had the weakest performance against analyst estimates among its peers. The stock is up 26.3% since reporting and currently trades at $37.44.

Read our full, actionable report on Riley Exploration Permian 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.