HAL

A month has gone by since the last earnings report for Oceaneering International (OII). Shares have added about 1.2% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Oceaneering International due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Oceaneering International, Inc. before we dive into how investors and analysts have reacted as of late. Oceaneering International reported an adjusted profit of 30 cents per share for the first quarter of 2026, missing the Zacks Consensus Estimate of 35 cents. Moreover, the bottom line decreased from 43 cents in the year-ago quarter. This was due to lower operating income from its Offshore Projects Group and Integrity Management & Digital Solutions segments. Total revenues were $692.4 million, which beat the Zacks Consensus Estimate of $664 million and increased approximately 2.7% from the year-ago quarter’s $674.5 million, driven by higher revenues in the company’s Subsea Robotics, Manufactured Products and Aerospace and Defense Technologies segments. In the first quarter of 2026, the Houston, TX-based oil and gas equipment and services company reported adjusted EBITDA of $83.7 million, a 13.4% decrease year over year. Subsea Robotics (SSR): The unit provides remotely operated submersible vehicles for drill support, vessel-based inspection, subsea hardware installation, pipeline surveys and maintenance services. Revenues totaled $214.3 million compared with the year-ago quarter’s $206 million. The segment also reported an operating income of $55.5 million compared with $59.6 million a year ago. The company’s segment delivered an EBITDA margin of 32% in the first quarter of 2026, decreasing from the prior-year period’s 35%. Revenue per day for remotely operated vehicles (“ROVs”) rose to $12,401, while ROV fleet utilization declined to 61%. Manufactured Products: The segment focuses on the manufactured products business, theme park entertainment systems and automated guided vehicles. Revenues totaled $143.6 million compared with the year-ago quarter’s $135 million. The segment posted an operating profit of $26.1 million in the first quarter, up from the year-ago quarter’s $8.7 million. The backlog tota...

A month has gone by since the last earnings report for Halliburton (HAL). Shares have added about 8.2% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Halliburton due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Halliburton Company before we dive into how investors and analysts have reacted as of late. Halliburton reported first-quarter 2026 adjusted net income per share of 55 cents, beating the Zacks Consensus Estimate of 49 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 60 cents due to softer activity in the North American region and the negative impact of geopolitical conflict in the Middle East, which hurt both of the company’s segments. Meanwhile, Houston, TX-based oil and gas equipment and services company’s revenues of $5.4 billion were 0.3% lower year over year but beat the Zacks Consensus Estimate of $5.3 billion.Inside Halliburton’s Regions & Segments North American revenues fell 4% year over year to $2.1 billion, due to reduced stimulation and artificial lift activity in US Land, along with lower stimulation and fluid services in the Gulf of America, but beat our projection by more than $45 million. On the other hand, revenues from Halliburton’s international operations increased 3% from the year-ago period to $3.3 billion. The Completion and Production earned $439 million in operating income, lower than last year’s $531 million, due to lower stimulation activity in North America and drops in completion tool sales and pressure pumping services in the Middle East. However, the figure beat our estimate of $427 million, thanks to higher completion tool sales in the Western Hemisphere and stronger pressure pumping services in Africa. The Drilling and Evaluation unit’s profit fell to $351 million in the first quarter of 2026 from $352 million in the same period of 2025. This decline was caused by lower activity across several product service lines in the Middle East, reduced wireline activity in the Eastern Hemisphere and a drop in fluid services in the Gulf of America. However, the result came in above our $336 million estimate, dr...

Targa Resources Corp. TRGP reported first-quarter 2026 earnings of $2.21 per share, which missed the Zacks Consensus Estimate of $2.55. The underperformance can be attributed to severe winter weather that impacted volumes across its systems, weak Waha natural gas prices that led to producer curtailments in the Permian Basin during the quarter and higher operating expenses related to maintenance activity, system expansions and acquired Permian assets. The bottom line, however, increased from the year-ago quarter’s level of 91 cents. The year-over-year improvement can be attributed to higher operating margins in the company’s Gathering and Processing and Logistics and Transportation segments. Total quarterly revenues of $4.1 billion missed the Zacks Consensus Estimate of $5.1 billion by 19.64%. Revenues also declined 10% from the year-ago quarter’s level of $4.6 billion, primarily due to lower commodity sales, partly offset by higher fees from midstream services. Targa Resources, Inc. price-consensus-eps-surprise-chart | Targa Resources, Inc. Quote Despite the revenue miss, Targa delivered record first-quarter adjusted EBITDA of $1.4 billion, up 19% from the prior-year quarter. The increase was driven by record Permian inlet volumes, record fractionation volumes and higher marketing margins. On April 16, 2026, Houston, TX-based oil and gas storage and transportation company declared a quarterly dividend of $1.25 per share, or $5 annualized, representing a 25% increase from the first-quarter 2025 dividend. The company also repurchased $55 million of common stock during the quarter. In the first quarter, Targa benefited from continued strength across its integrated Permian-to-Mont Belvieu footprint. Management mentioned that the company still achieved record first-quarter adjusted EBITDA, Permian volumes and NGL fractionation volumes despite winter weather and periodic shut-ins. The company also mentioned that current Permian volumes were running more than 250 million cubic feet per day above the first-quarter average, even with 200-400 million cubic feet per day of temporary producer shut-ins on any given day. Gathering and Processing: The segment’s operating margin was $703.5 million, up 17% from $602.2 million in the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $757 million. Adjusted operating margin increased 16% year over yea...

Cheniere Energy, Inc. LNG reported a first-quarter 2026 adjusted earnings of $4.77 per share, beating the Zacks Consensus Estimate of $3.91 by 22%. The figure increased 34.6% from the year-ago quarter’s level. This was primarily due to stronger operational execution and favorable LNG market conditions in the first quarter of 2026, which helped adjusted earnings beat estimates and improve year over year. Revenues totaled $5.87 billion, beating the Zacks Consensus Estimate of $5.70 billion by 3% and rising 8% year over year, driven by a 7.9% and 6.7% year-over-year increase in LNG and Other revenues, respectively. Cheniere Energy, Inc. price-consensus-eps-surprise-chart | Cheniere Energy, Inc. Quote Operationally, the company posted record LNG loaded volumes of 688 TBtu, up 13% year over year. The figure also beat the consensus mark of 648 TBtu. Additionally, the company exported a record 187 cargoes during the quarter, reflecting an 11% year-over-year increase from the prior-year quarter’s level. On April 22, Cheniere Energy’s board of directors declared a quarterly cash dividend of 55.5 cents per share. The dividend, which remains unchanged, will be paid on May 19, 2026. Cheniere Energy deployed about $1.2 billion toward growth, balance sheet management, share repurchases and dividends during the quarter. The company repurchased common stock for approximately $537 million and paid a quarterly dividend, totaling about $117 million. The oil and gas storage and transportation company reported consolidated adjusted EBITDA of $2.3 billion in the first quarter of 2026, up about 25% from the year-ago quarter’s level. The growth was primarily driven by higher total margins on LNG delivered, reflecting higher volumes and contributions from optimization activities, along with the recognition of a nonrecurring tax credit. During the first quarter of 2026, LNG generated distributable cash flow of $1.67 billion. Cheniere Energy noted that new long-term contracted volumes commenced during the first quarter, reinforcing the strategy of pairing long-duration contracts with its large-scale Gulf Coast liquefaction footprint. The company reiterated its focus on bringing incremental capacity online efficiently through debottlenecking initiatives while continuing permitting, development and commercialization work tied to expansions at Sabine Pass and Corpus Christi. Management c...

Oilfield services and equipment stocks delivered strong Q1 results, mainly driven by stable North Am

Permian Resources Corporation PR reported first-quarter 2026 adjusted earnings of 39 cents per share, beating the Zacks Consensus Estimate of 38 cents by 3%. This outperformance was primarily driven by stronger production volumes, improved well performance, reduced downtime and continued drilling and completion efficiencies. However, the bottom line declined from the year-ago quarter’s adjusted earnings of 43 cents due to weaker NGL and natural gas realizations, along with higher operating expenses. The company’s oil and gas sales of $1.39 billion missed the Zacks Consensus Estimate of $1.4 billion by 0.83%. However, revenues increased slightly from the year-ago quarter’s $1.38 billion, aided by a higher year-over-year contribution from oil sales (10.6%) and purchased gas sales during the quarter. Permian Resources Corporation price-consensus-eps-surprise-chart | Permian Resources Corporation Quote On May 6, 2026, the Midland, TX-based exploration and production company declared a quarterly base dividend of 16 cents per Class A common share, translating to an annualized dividend of 64 cents. The payout is scheduled for June 30, 2026, for its shareholders on record as of June 16. Management reiterated that the base dividend remains a top capital allocation priority. Beyond the base dividend, the company intends to focus on debt repayment, cash accumulation, accretive acquisitions and opportunistic share repurchases, depending on market conditions. The company reported total average production of 412.9 thousand barrels of oil equivalent per day (MBoe/d), comprising 47% oil and 72% liquids, in the first quarter, up from 373.2 MBoe/d in the year-ago period. The figure beat the Zacks Consensus Estimate of 411,665 Boe/d due to strong runtime, improved recent well performance and efforts to accelerate incremental oil volumes in March through increased workover activity. The company also accelerated oil production volumes during March. Crude oil production averaged 192.3 thousand barrels per day (MBbls/d), up from 175 MBbls/d in the prior-year quarter. The figure beat the Zacks Consensus Estimate of 189.6 MBbls/d. NGL production came in at 103.3 MBbls/d, up 20.1% year over year. However, it missed the Zacks Consensus Estimate by 1.01%. Meanwhile, natural gas production totaled 703 million cubic feet per day (MMcf/d), up 4.4% year over year, but missed the Zacks Cons...

Flowco Holdings Inc. FLOC delivered a strong first-quarter 2026 performance, supported by demand for its production-optimization, artificial-lift and emissions-management offerings. Adjusted earnings of 48 cents per share beat the Zacks Consensus Estimate of 34 cents, while revenues rose 8.9% year over year to $209.5 million and topped expectations. The results showed that Flowco is benefiting from operators’ focus on improving output from existing wells rather than relying only on new drilling. That theme is also important for oilfield service peers such as Halliburton Company HAL and Tenaris S.A. TS, which are investing in technology and efficiency-focused solutions. While FLOC’s recent run has been impressive, investors should weigh the earnings beat against valuation, estimate trends and already-strong share-price performance. Flowco’s biggest strength in the quarter came from its Production Solutions segment. Revenues in the segment were $140.2 million, up 20.8% year over year, while adjusted segment EBITDA reached $61.5 million. The segment’s 43.9% margin reflects the benefits of its rental-heavy model and demand for high-pressure gas lift, electric submersible pumps and other artificial-lift solutions. Flowco’s acquisition of Valiant Artificial Lift Solutions, completed in March, added electric submersible pumps (ESP) capabilities and expanded the company’s ability to support wells earlier in their production lives. This gives FLOC a broader lift portfolio, similar to how Halliburton and Tenaris are broadening their service offerings through technology and acquisitions. Natural Gas Technologies was less of a growth engine but remained profitable. Segment revenues were $69.4 million, down from the year-ago period, reflecting softer comparisons in some natural gas systems activity. Still, adjusted segment EBITDA improved to $29.7 million, and margin expanded to 42.8% from 37.5% a year earlier. Vapor recovery rentals helped offset weaker system sales, showing that Flowco’s emissions-management and monetization products remain relevant as producers seek both economic and environmental benefits. The company’s investor presentation highlights vapor recovery units as tools that can reduce emissions while improving economics through recovered liquids-rich gas. Image Source: Flowco Holdings On a consolidated basis, Flowco generated adjusted EBITDA of $85.5 mil...

Helmerich & Payne, Inc. HP reported a second-quarter fiscal 2026 adjusted net loss of 38 cents per share, wider than the Zacks Consensus Estimate of an adjusted net loss of 6 cents. Moreover, the bottom line decreased considerably from the year-ago quarter’s reported profit of 2 cents. This was due to a weaker rig activity in North America and international markets, and significantly higher operating costs related to its Middle East operations. The International Solutions segment posted an operating loss of nearly $100 million as the company incurred additional expenses to reactivate rigs in Saudi Arabia and work around supply-chain disruptions caused by the Middle East conflict. Moreover, the quarter included a $26 million non-cash impairment charge, which further pressured profitability. Revenues totaled $932 million, missing the consensus mark of $946 million by 1.46%. The top line also declined 8.2% year over year from the prior-year quarter’s level of $1 billion, primarily due to lower revenue contributions from drilling services. Helmerich & Payne, Inc. price-consensus-eps-surprise-chart | Helmerich & Payne, Inc. Quote The company returned approximately $25 million to shareholders through its ongoing dividend program during the quarter. Management also noted continued progress in expanding the deployment of FlexRobotics technology to support customer demand. North America Solutions: Operating revenues of $517.2 million decreased 13.7% year over year. Moreover, the top line missed our projection of $519.1 million. The segment averaged 136 active rigs in the quarter and delivered a direct margin of $215.2 million, or $17,628 on a per-day basis, maintaining industry-leading performance. Segment operating income was $111.3 million, improving sequentially from the prior quarter that included a one-time impairment, but down from $151.9 million in the year-ago period. However, the reported figure beat our estimate of $93.9 million. HP highlighted strengthening customer sentiment and meaningful commercial momentum across the U.S. land market, supported by new contracts and extensions across multiple basins. International Solutions: Operating revenues were $218.3 million, down 11.9% from $247.9 million a year ago. Moreover, the top line missed our projection of $231 million. The segment recorded an operating loss of approximately $100 million and generated abou...

Magnolia Oil & Gas Corporation MGY posted first-quarter 2026 net profit of 54 cents per share, beating the Zacks Consensus Estimate of 51 cents by 5.9%. This outperformance can be attributed to higher production, led by Giddings, alongside disciplined spending that supported sizable free cash flow generation. Total output increased 6% year over year to 102.6 thousand barrels of oil equivalent per day (Mboe/d), which also exceeded the consensus estimate by 0.44%, providing a key operating tailwind. However, the bottom line declined from the year-ago quarter’s 55 cents mainly because operating expenses increased nearly 8% during the quarter, compressing margins. The oil and gas exploration and production company’s total revenues of $358.5 million rose 2.3% from the year-ago quarter and topped the consensus mark of $335 million by about 7%, driven by a higher year-over-year contribution from oil revenues. Magnolia Oil & Gas Corp price-consensus-eps-surprise-chart | Magnolia Oil & Gas Corp Quote Magnolia reported the average daily total output of 102,564 barrels of oil equivalent per day (boe/d), increasing 6.2% from the year-ago quarter’s 96,549 boe/d. The figure also beat the model estimate of 102,000 boe/d. Magnolia’s oil volumes averaged 40,678 barrels per day (bpd) in the quarter, up from 39,078 bpd a year ago. Moreover, the figure topped our estimate of 40,500 bpd. Natural gas volumes improved to 193,143 thousand cubic feet (Mcf) per day from 183,248 Mcf/d. The figure also surpassed our estimate of 192,700 Mcf/d. NGL volumes increased to 29,696 bpd from 26,930 bpd. Moreover, the figure beat our estimate of 29,300 bpd. Management highlighted that Giddings continued to drive the company’s growth profile, with its production representing 82% of total volumes during the quarter. Giddings total production increased 9% year over year, with oil volumes up 8%, supported by strong well performance. Oil remained the largest revenue contributor, with oil revenues of $257.3 million compared with $245.5 million in the year-ago period. Natural gas revenues were $51.8 million, modestly higher year over year, while NGL revenues declined to $49.4 million from $53.4 million. Realizations were mixed across products. The average realized crude oil price was $70.29 per barrel, indicating a 0.7% increase from the year-ago period’s $69.81 and beating our estimate of $55.49. The...

USA Compression Partners USAC reported first-quarter 2026 adjusted net profit of 27 cents per common unit, matching the Zacks Consensus Estimate. The metric improved from the year-ago quarter’s net profit of 18 cents per common unit, driven by a year-over-year increase in revenue-generating capacity and the contribution from the J-W Power acquisition. The largest independent provider of natural gas compression services generated revenues of $331.3 million, improving 35.2% from the year-ago quarter’s level and beating the Zacks Consensus Estimate by 13.3%. This growth was aided by higher contract operations revenues and the inclusion of J-W Power’s results following the Jan. 12, 2026, acquisition. USA Compression Partners, LP price-consensus-eps-surprise-chart | USA Compression Partners, LP Quote Dallas, TX-based oil and gas equipment and services company’s adjusted EBITDA increased 26.1% to $188.6 million from $149.5 million in the prior-year quarter. Distributable cash flow rose to $130.8 million from $88.7 million in the year-ago period. The company reported net income of $38.3 million compared with $20.5 million in the year-ago quarter. USAC reported net operating cash flow of $86.1 million in the first quarter, up from the prior-year quarter’s $54.7 million. The company’s revenue-generating capacity increased year over year to 4.44 million horsepower from 3.56 million horsepower, primarily reflecting the J-W Power acquisition. Moreover, the figure exceeded our estimate of 3.58 million horsepower. Adjusted gross operating margin of 64.4% marked a decrease from the year-ago period’s 66.7%. Further, the average monthly revenue per horsepower rose to $22.73 from $21.06 in the first quarter of 2025. However, the figure missed our estimate of $25.01 million average monthly revenue per horsepower. USA Compression’s average quarterly horsepower utilization rate was 91.9%, down from the year-ago quarter’s 94.4%. USA Compression’s distributable cash flow available to limited partners totaled $130.8 million, providing 1.72x distribution coverage, up from the year-ago level of 1.44x. The company reported $239.9 million in costs and expenses, up from $175.8 million in the year-ago quarter. It spent $26.4 million on growth capex. Maintenance capex amounted to $9.2 million. As of March 31, 2026, USA Compression had net long-term debt of $3 billion. The partnership had...

Suncor Energy Inc. SU reported first-quarter 2026 adjusted operating earnings of $1.41 per share, which missed the Zacks Consensus Estimate of $1.45 by 3%. This underperformance can be attributed to a 16.5% increase in total expenses and higher commodity input costs during the quarter. However, the bottom line increased from the year-ago quarter’s reported figure of 91 cents due to stronger downstream margins, higher upstream price realizations and increased sales volumes. Calgary-based integrated oil and gas company’s operating revenues of $10.7 billion beat the Zacks Consensus Estimate of $8.9 billion by 19.53%. The top line increased approximately 23.2% year over year, aided by record refined product sales, higher refinery production and stronger benchmark crack spreads. Suncor Energy Inc. price-consensus-eps-surprise-chart | Suncor Energy Inc. Quote Suncor delivered a strong operating quarter, with record first-quarter upstream production of 875,200 barrels per day (bbls/d), up from 853,200 bbls/d in the year-ago quarter. Refining throughput also reached a first-quarter record of 497,800 bbls/d, compared with 482,700 bbls/d a year earlier, while refined product sales rose to a quarterly record of 680,900 bbls/d from 604,900 bbls/d in the prior-year period. Management highlighted that the quarter reflected continued momentum from 2025, supported by record first-quarter upstream output, strong refinery performance and expanded product sales through domestic retail growth and global export opportunities. Upstream: Suncor delivered a strong operating quarter, with record first-quarter upstream production of 875,200 bbls/d, up from 853,200 bbls/d in the year-ago quarter. Moreover, the figure beat the consensus estimate of 868,000 bbls/d. Total Oil Sands production was 798,800 bbls/d, up from 790,900 bbls/d in the year-ago quarter. Total Oil Sands bitumen production was 933,900 bbls/d, broadly comparable with 937,300 bbls/d in the prior-year period, and featured record quarterly production at Fort Hills. However, Syncrude maintenance and a third-party natural gas input pipeline curtailment weighed on production. Net synthetic crude oil and diesel production declined to 519,300 bbls/d from 536,600 bbls/d a year earlier due to lower Syncrude upgrader availability. Non-upgraded bitumen production increased to 279,500 bbls/d from 254,300 bbls/d, primarily due to d...

TC Energy Corporation TRP reported first-quarter 2026 adjusted earnings of 72 cents per share, which beat the Zacks Consensus Estimate of 70 cents. Moreover, the bottom line increased from 66 cents reported in the year-ago period. This outperformance was driven by robust results from all the reportable segments of the company. This North American energy infrastructure provider's quarterly revenues of $2.8 billion missed the Zacks Consensus Estimate by 5%. However, the figure increased 11.5% year over year. TC Energy Corporation price-consensus-eps-surprise-chart | TC Energy Corporation Quote TC Energy’s comparable EBITDA increased to C$3.1 billion from C$2.7 billion in the prior year. TRP’s board of directors declared a quarterly dividend of 87.75 Canadian cents per common share for the quarter ending June 30, 2026, translating to an annualized dividend rate of C$3.51. The dividend will be payable on July 31, 2026, to its shareholders of record on June 30. Canadian Natural Gas Pipelines reported a comparable EBITDA of C$919 million, up 3.3% from the year-ago quarter’s level. TRP reported that Canadian Natural Gas Pipelines deliveries averaged 29.7 billion cubic feet per day (Bcf/d), marking a 3% increase from the year-ago quarter’s level and achieving a new all-time delivery record of 33.2 Bcf on Jan. 22, 2026. The company posted that Canadian Mainline Western receipts averaged 5 Bcf/d, in line with the year-ago quarter’s level. U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1,497 million, indicating a 9.5% increase from the prior-year quarter’s actual. U.S. Natural Gas Pipelines recorded daily average flows of 32.6 Bcf/d, marking a 5% increase from the first quarter of 2025. The segment also reached a new all-time delivery record of 39.9 Bcf on Jan. 29, 2026. Deliveries to LNG facilities averaged 3.9 Bcf/d, up 12% from the prior-year quarter. Mexico Natural Gas Pipelines reported a comparable EBITDA of C$432 million, up 85.4% from the year-ago quarter’s reported figure of C$233 million. TRP reported that Mexico Natural Gas Pipelines flows in the first quarter averaged 2.8 Bcf/d, which was lower than the year-ago quarter’s level due to adjustments made to the pipeline flows. Additionally, deliveries to power generation facilities averaged 1.2 Bcf/d in the first quarter of 2026, in line with first-quarter 2025. Power and Energy Solutions registe...