Tidewater, Borr Drilling, TETRA Technologies, ProPetro, and HighPeak Energy stocks trade up, what you need to know
What happened?
A number of stocks jumped in the afternoon session after shipping attacks in the Persian Gulf sparked renewed supply concerns, driving crude oil prices sharply higher. The Wall Street Journal reported that front-month Brent crude rose 1.2% to $92.55 a barrel, recovering from a sharp selloff.
West Texas Intermediate futures rose 0.7% to $86.67.
The Journal said the strikes tempered expectations of a diplomatic resolution to the U.S.-Iran conflict, and that supply risks in the region persist. A bottleneck in that shipping lane can tighten the crude available to buyers and add a geopolitical premium to the price. Higher oil prices can support revenue and cash flow for producers.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Mixed or offshore upstream E&P company Tidewater jumped 6%. Is now the time to buy Tidewater? Access our full analysis report here, it’s free.
- Oilfield services company Borr Drilling jumped 5.4%. Is now the time to buy Borr Drilling? Access our full analysis report here, it’s free.
- Oilfield services company TETRA Technologies jumped 5.8%. Is now the time to buy TETRA Technologies? Access our full analysis report here, it’s free.
- Oilfield services company ProPetro jumped 4.3%. Is now the time to buy ProPetro? Access our full analysis report here, it’s free.
- U.S. shale E&P company HighPeak Energy jumped 6.5%. Is now the time to buy HighPeak Energy? Access our full analysis report here, it’s free.
Zooming in on HighPeak Energy
HighPeak Energy’s shares are extremely volatile and have had 75 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock dropped 9.9% on the news that crude oil benchmarks retreated following U.S. midterm election results and shifting foreign policy developments concerning Iran. CNBC reported that both Brent and West Texas Intermediate crude benchmarks dropped alongside European natural gas prices as investors weighed the broader market implications of a Democratic sweep of Congress. Traders closely analyzed potential policy shifts alongside changing expectations regarding diplomatic pathways versus renewed military strikes involving Iran.
Geopolitical tensions in key crude-producing regions often inject an uncertainty premium into commodity prices, and signals pointing toward diplomacy can quickly alleviate supply tightness concerns. Because integrated oil producers and exploration companies rely directly on robust benchmark pricing to sustain upstream cash flows and revenue growth, the retreat in commodity futures put downward pressure across energy equities.
HighPeak Energy is up 64.3% since the beginning of the year, but at $7.35 per share, it is still trading 36.5% below its 52-week high of $11.57 from October 2026. Despite the year-to-date gain, investors who bought $1,000 worth of HighPeak Energy’s shares 5 years ago would now be looking at only $529.94.
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