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 Matador Resources (NYSE: MTDR) 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 8.2% since the latest earnings results.

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 $671.6 million, down 33.8% year on year. This print fell short of analysts’ expectations by 23%. Overall, it was a softer quarter for the company with a significant miss of analysts’ EBITDA estimates.

Matador Resources delivered the weakest performance against analyst estimates and slowest revenue growth among its peers. The market seems disappointed with the results as the stock is down 10.1% since reporting and currently trades at $51.93.

Is now the time to buy Matador 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 incredible quarter with a beat of analysts’ EPS estimates.

Chord Energy scored the biggest analyst estimate beat in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 16.7% since reporting. It currently trades at $124.25.

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.

The stock is flat since the results and currently trades at $416.47.

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

Viper Energy (NASDAQ: VNOM)

Operating a business model that requires no drilling rigs or production equipment of its own, Viper Energy (NASDAQ: VNOM) owns mineral and royalty interests in oil and gas properties, collecting revenue when operators extract resources from land.

Viper Energy reported revenues of $511 million, up 109% year on year. This print was in line with analysts’ expectations. Overall, it was a strong quarter as it also logged a decent beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

Viper Energy achieved the fastest revenue growth of the whole group. The stock is down 14.9% since reporting and currently trades at $43.38.

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

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 result missed analysts’ expectations by 0.7%. All in all, it was a mixed quarter for the company.

The stock is down 7.1% since reporting and currently trades at $19.71.

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

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

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