Q4 Earnings Outperformers: Occidental Petroleum (NYSE:OXY) And The Rest Of The Diversified Upstream E&P Stocks

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

Weakest Q4: ExxonMobil (NYSE:XOM)

One of the successor companies to John D. Rockefeller’s Standard Oil monopoly that was broken up in 1911, ExxonMobil (NYSE:XOM) explores for and produces crude oil and natural gas, refines and sells petroleum products, and manufactures petrochemicals.

ExxonMobil reported revenues of $82.31 billion, down 1.3% year on year, falling short of analysts’ expectations by 1.2%. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 5.6% since the results and currently trades at $148.42.

Read our full analysis of ExxonMobil’s results here.

Coterra Energy (NYSE:CTRA)

Operating some of the country’s largest natural gas wells in Pennsylvania’s Marcellus Shale, Coterra Energy (NYSE:CTRA) drills for and produces oil, natural gas, and natural gas liquids from underground shale formations.

Coterra Energy reported revenues of $1.96 billion, up 34.7% year on year. This number topped analysts’ expectations by 5.2%. Taking a step back, it was a slower quarter as it recorded a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.

Coterra Energy scored the fastest revenue growth among its peers. The stock is up 12.2% since reporting and currently trades at $33.68.

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

ConocoPhillips (NYSE:COP)

Operating the famous Prudhoe Bay field discovered in 1968 that transformed Alaska’s economy, ConocoPhillips (NYSE:COP) explores for and produces crude oil, natural gas, and liquefied natural gas across North America, Europe, Asia, and Africa.

ConocoPhillips reported revenues of $14.19 billion, down 3.7% year on year. This print beat analysts’ expectations by 6.7%. All in all, it was a satisfactory quarter for the company.

The stock is up 13.2% since reporting and currently trades at $121.79.

Read our full, actionable report on ConocoPhillips 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 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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