U.S. Shale E&P Stocks Beat Q2 Estimates by 10.4%

Earnings
โดย Yahoo Finance·US·Read original
Summary · why it matters

U.S. shale E&P stocks delivered an exceptional second quarter, with the 11 companies tracked beating analysts' consensus revenue estimates by 10.4% as a group. Chord Energy, the largest acreage holder in the Williston Basin, reported revenues of $2.17 billion, up 84% year on year and exceeding expectations by 31.9%, the biggest beat in the group, and its stock has risen 7.9% since reporting to $140.20. HighPeak Energy, operating in the Midland Basin, posted revenues of $272.4 million, up 25.8% year on year and beating estimates by 8.7%, though its stock is down 2.5% to $7.73. Texas Pacific Land, with roughly 868,000 acres in the Permian Basin, reported revenues of $246.1 million, up 31.2% year on year but missing estimates by 1.4%, the weakest performance among peers, and its stock is down 2.4% to $372.77. Matador Resources, focused on the Delaware Basin, saw revenues of $1.19 billion, up 32.5% year on year and beating estimates by 13.7%, with its stock up 18% to $55.50. Diamondback Energy, operating in the Permian Basin, reported revenues of $5.56 billion, up 51.2% year on year and beating estimates by 13.5%, with its stock flat at $199.02. On average, shale E&P stocks have risen 11.1% since the latest earnings results.

Impact on stocks 5

Energy± Mixed · 5 stocks
Chord Energy Corp
CHRD
▲ PositiveCapitalrelevance

Chord Energy reported Q2 revenues of $2.17B, up 84% YoY and beating estimates by 31.9%, the biggest beat in the group.

Diamondback Energy Inc
FANG
▲ PositiveCapitalrelevance

Diamondback Energy reported Q2 revenues of $5.56B, up 51.2% YoY and beating estimates by 13.5%.

HighPeak Energy, Inc
HPK
▲ PositiveCapitalrelevance

HighPeak Energy posted Q2 revenues of $272.4M, up 25.8% YoY and beating estimates by 8.7%.

Texas Pacific Land Corporation
TPL
▼ NegativeCapitalrelevance

Texas Pacific Land reported Q2 revenues of $246.1M, up 31.2% YoY but missing estimates by 1.4%, the weakest performance among peers.

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