The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how oilfield services stocks fared in Q4, starting with Halliburton (NYSE: HAL).

Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation.

The 26 oilfield services stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 3.7%.

Thankfully, share prices of the companies have been resilient as they are up 5.7% on average since the latest earnings results.

Halliburton (NYSE: HAL)

Behind nearly every oil and gas well drilled worldwide, Halliburton (NYSE: HAL) provides drilling, completion, and production services that help oil and gas companies extract hydrocarbons from underground reservoirs.

Halliburton reported revenues of $5.66 billion, flat year on year. This print exceeded analysts’ expectations by 4.2%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

“I am pleased with Halliburton’s fourth quarter performance and the way we closed out 2025. We outperformed our expectations and it is clear that Halliburton’s strategy and value proposition deliver differentiated results,” commented Jeff Miller, Chairman, President and CEO.

Interestingly, the stock is up 17.2% since reporting and currently trades at $37.58.

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

Best Q4: Borr Drilling (NYSE: BORR)

Operating one of the world's youngest jack-up fleets with an average age under eight years, Borr Drilling (NYSE: BORR) operates jack-up rigs that drill oil and gas wells in shallow waters up to 400 feet deep for exploration and production companies.

Borr Drilling reported revenues of $259.4 million, down 1.4% year on year, outperforming analysts’ expectations by 8.1%. The business had an incredible quarter with a beat of analysts’ EPS estimates.

The market seems content with the results as the stock is up 2.1% since reporting. It currently trades at $5.90.

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

Weakest Q4: World Kinect (NYSE: WKC)

Serving over 150,000 customers from commercial jets to cargo ships to heating oil consumers, World Kinect (NYSE: WKC) procures and delivers fuel and energy products to airlines, shipping companies, trucking fleets, and industrial businesses worldwide.

World Kinect reported revenues of $9.03 billion, down 7.5% year on year, falling short of analysts’ expectations by 2.3%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 10.1% since the results and currently trades at $23.91.

Read our full analysis of World Kinect’s results here.

Nabors Industries (NYSE: NBR)

Operating one of the largest land-based drilling rig fleets in the world with over 285 rigs across more than 15 countries, Nabors Industries (NYSE: NBR) operates drilling rigs and provides related services to help oil and gas companies drill wells on land and offshore platforms.

Nabors Industries reported revenues of $797.5 million, up 9.3% year on year. This print topped analysts’ expectations by 0.8%. Overall, it was a strong quarter as it also recorded a beat of analysts’ EPS and EBITDA estimates.

The stock is up 16.2% since reporting and currently trades at $82.38.

Read our full, actionable report on Nabors Industries here, it’s free.

Expro (NYSE: XPRO)

Operating in over 50 countries from deepwater offshore platforms to remote onshore fields, Expro (NYSE: XPRO) provides equipment and services that help oil and gas companies drill wells, measure production, and maintain well integrity.

Expro reported revenues of $382.1 million, down 12.5% year on year. This number came in 5.3% below analysts' expectations. It was a disappointing quarter as it also produced a miss of analysts’ EBITDA and EPS estimates.

Expro had the weakest performance against analyst estimates among its peers. The stock is flat since reporting and currently trades at $16.70.

Read our full, actionable report on Expro 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 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.