In this article, we are going to discuss the energy stocks that are losing this week.
The S&P Energy index remained largely flat between February 18 and February 25, surging by just 0.24%. This compares to gains of 0.40% posted by the overall S&P 500 during the period.
Global crude oil prices surged to their highest level since last July on February 20, as rising tensions between Washington and Tehran threatened supply from the Middle East. However, tensions have eased since then, after the two parties met in Geneva for indirect talks and continued nuclear negotiations, leading to a slight fall in oil prices.
That said, Iran continues to insist that it would not allow its enriched uranium to leave the country. Meanwhile, the large American military presence in the Middle East is also keeping the markets on edge, as President Trump has warned of strict military action if the two parties fail to meet an agreement.
At the same time, the market will keep a close eye on the OPEC+ meeting on Sunday, when the group will decide on its next production move amid heightened geopolitical friction that could affect almost a third of its output. The organization is expected to raise its output by 137,000 bpd in April, following a three-month pause driven by the seasonally weak demand.
Our Methodology
To collect data for this article, we used several stock screeners to identify energy stocks that declined the most between February 18 and February 25, 2026. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period.
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10. Select Water Solutions, Inc. (NYSE:WTTR)
Share Price Decline Between Feb. 18 – Feb. 25: 4.44%
Select Water Solutions, Inc. (NYSE:WTTR) is a leader in water management and chemical technology serving customers in the oil and gas industry and other industrial applications.
Select Water Solutions, Inc. (NYSE:WTTR) fell after the company announced a $175 million secondary equity offering on February 19, underscoring concerns about dilution for current shareholders. Moreover, WTTR revealed plans to grant the underwriters a 30-day option to acquire up to an additional $26.25 million of shares at the public offering price, less underwriting discounts and commissions.
The company has priced the offering of 13.7 million shares at $12.75 per share, with net proceeds going towards general corporate purposes, including water infrastructure growth projects, potential acquisitions, or debt repayment.
The strategic move comes after Select Water Solutions, Inc. (NYSE:WTTR) announced better-than-expected Q4 2025 results on February 17. The company is forecasting 20%-25 % YoY growth for its Water Infrastructure segment in 2026, while maintaining gross margins similar to the 54% level achieved in the fourth quarter of 2025.
9. Murphy Oil Corporation (NYSE:MUR)
Share Price Decline Between Feb. 18 – Feb. 25: 5.09%
Murphy Oil Corporation (NYSE:MUR) is a global independent oil and natural gas exploration and production company.
Murphy Oil Corporation (NYSE:MUR) had a setback on February 24 when the company revealed that its second exploration well offshore the Ivory Coast had also failed, after its first well suffered a similar fate last month. Murphy’s second well, Caracal-1X, will now be abandoned and plugged as a dry hole.
Murphy Oil Corporation (NYSE:MUR) holds a 90% working interest in Block CI-502 offshore the Ivory Coast and serves as the operator, while the state-owned Petroci owns the remaining 10%. Despite the setbacks in the first two wells, the two partners remain committed to moving forward with a third well, Bubale-1X, in Block CI-709.
Murphy Oil Corporation (NYSE:MUR) announced in its Q4 earnings call last month that it is targeting net production of 171,000 boed for FY 2026, down from last year’s 182,000 boed.
8. SM Energy Company (NYSE:SM)
Share Price Decline Between Feb. 18 – Feb. 25: 5.77%
SM Energy Company (NYSE:SM) is an independent energy company focused on the exploration, exploitation, development, acquisition, and production of natural gas and crude oil in the United States.
SM Energy Company (NYSE:SM) reported mixed results for Q4 2025 on February 25, with the company’s adjusted EPS of $0.83 in line with expectations. However, its revenue of $705 million was down by over 17% YoY and fell short of forecasts by almost $55.6 million. The energy firm’s net income for the quarter fell by 42% YoY to $109 million, while its net income for the full year 2025 was also down by almost 16% compared to the previous year.
That said, SM Energy Company (NYSE:SM)’s net production grew by 21% YoY to a record 75.5 MMBoe in FY 2025, of which 53% was oil. This helped the company hit a record adjusted EBITDAX of $2.26 billion, 13% higher than in 2024, despite the lower oil prices. Moreover, SM also generated a record operating cash flow of $2.01 billion for the year, while its adjusted free cash flow surged by 28% YoY to $620 million.
SM Energy Company (NYSE:SM) also raised its quarterly dividend by 10% to $0.22 per share, payable on March 23 to shareholders of record on March 9. With an annual dividend yield of 3.69%, SM was recently included in our list of the 12 Best Crude Oil Stocks to Buy for Dividends.
7. Western Midstream Partners, LP (NYSE:WES)
Share Price Decline Between Feb. 18 – Feb. 25: 6.65%
Western Midstream Partners, LP (NYSE:WES) operates as a midstream energy company primarily in the United States.
Western Midstream Partners, LP (NYSE:WES) fell after reporting disappointing Q4 2025 results on February 18, with the company falling short of forecasts on both earnings and revenue. Western’s adjusted EPS of $0.48 was well below expectations of $0.80, while its revenue of just over $1 billion also missed consensus by $18 million, despite a YoY growth of 11%.
That said, Western Midstream Partners, LP (NYSE:WES) delivered record full-year adjusted EBITDA of $2.481 billion for full-year 2025, exceeding its guidance range and indicating a YoY increase of 6%. Moreover, the company’s free cash flow for the year also grew by 15% YoY to $1.526 billion, exceeding the high end of its guidance range.
Western Midstream Partners, LP (NYSE:WES) is targeting its adjusted EBITDA for FY 2026 to range between $2.5 billion and $2.7 billion, indicating a YoY growth of 5%. At the same time, the company expects its CapEx for the year to come in at $850 million – $1 billion, down from its previous estimate of at least $1.1 billion.
6. NuScale Power Corporation (NYSE:SMR)
Share Price Decline Between Feb. 18 – Feb. 25: 7.18%
NuScale Power Corporation (NYSE:SMR) provides small modular reactor technology solutions. The company’s groundbreaking NuScale Power Module is a 12-module plant capable of producing up to 924 MWe of carbon-free energy.
NuScale Power Corporation (NYSE:SMR) had a setback on February 17 when Fluor announced that it had completed the sale of 71 million shares of the stock, generating sales proceeds of $1.35 billion. Furthermore, Fluor revealed that it expects to offload the remaining 40 million shares of the nuclear technology company in the second quarter of this year.
NuScale Power Corporation (NYSE:SMR) further faced downward pressure on February 23 when Barclays significantly reduced its price target on the stock from $45 to $15, but kept its ‘Equal Weight’ rating on the shares.
Similarly, on February 24, Cantor Fitzgerald lowered its price target on NuScale Power Corporation (NYSE:SMR) from $55 to $20, while maintaining its ‘Overweight’ rating on the shares. The revision follows a series of headwinds for the company, including the aforementioned share sales by Fluor, potential ATM-related pressure, and delays stemming from the RoPower announcement. That said, the analyst still indicated optimism around NuScale’s commercialization prospects and long-term potential.
5. Par Pacific Holdings, Inc. (NYSE:PARR)
Share Price Decline Between Feb. 18 – Feb. 25: 8.76%
Par Pacific Holdings, Inc. (NYSE:PARR) is a growth-oriented company that owns and operates market-leading energy and infrastructure businesses in logistically complex markets.
Par Pacific Holdings, Inc. (NYSE:PARR) posted mixed results for Q4 2025 on February 24, with its adjusted earnings of $1.17 per share falling behind forecasts by $0.11. However, the company’s revenue of $1.81 billion exceeded expectations by over $130 million.
Par Pacific Holdings, Inc. (NYSE:PARR) reported net income of $75.4 million for Q4, compared to a net loss of $56 million in the same period in 2024. Meanwhile, net income for the full-year 2025 was $367.1 million, up from a net loss of $33.3 million in the year before. Full-year adjusted EBITDA also surged by approximately 13% versus 2024. The results were supported by a record full-year throughput of 188,000 barrels per day, led by the increased production rates in Hawaii.
Notably, Par Pacific Holdings, Inc. (NYSE:PARR) also reduced its total debt by $310 million in 2025, in addition to reducing its total shares outstanding by 10%.
Par Pacific Holdings, Inc. (NYSE:PARR) was recently included in our list of the 8 Best Oil and Gas Refinery Stocks to Buy.
4. Clean Energy Fuels Corp. (NASDAQ:CLNE)
Share Price Decline Between Feb. 18 – Feb. 25: 9.85%
Clean Energy Fuels Corp. (NASDAQ:CLNE) pioneered renewable natural gas as a vehicle fuel in the US and continues to be North America’s largest provider of RNG for the transportation industry.
Clean Energy Fuels Corp. (NASDAQ:CLNE) fell after reporting its Q4 2025 results on February 24. While the company managed to beat Wall Street estimates, it reported a net loss attributable to the company of $43 million for the quarter, versus a net loss of $30.1 million in the same period in 2024. Meanwhile, net loss attributable to the company for the full-year 2025 increased by 167% YoY to $222 million, driven partially by the non-cash interest charges in Q4 associated with debt paydown and the expiration of the company’s delayed draw loan.
Clean Energy Fuels Corp. (NASDAQ:CLNE)’s adjusted EBITDA for the year also dropped by almost 12% YoY to $67.6 million, but still exceeded the top end of its guidance of $65 million. Moreover, the company’s RNG sales for FY 2025 reached 237.4 million gallons, up slightly when compared to 2024.
Clean Energy Fuels Corp. (NASDAQ:CLNE) is forecasting its FY 2026 revenue to range between $420 million and $440 million. The company has also guided to a GAAP net loss of $66 million to $71 million for the year, while it expects adjusted EBITDA in the range of $70 million to $75 million. CLNE is targeting RNG deliveries of 250 million gallons in 2026, with total fuel volumes around 324 million gallons.
3. First Solar, Inc. (NASDAQ:FSLR)
Share Price Decline Between Feb. 18 – Feb. 25: 11.93%
First Solar, Inc. (NASDAQ:FSLR) is a leading American solar technology company and global provider of responsibly produced, eco-efficient solar modules.
First Solar, Inc. (NASDAQ:FSLR) fell to a multi-month low on February 24 after the company’s earnings of $4.84 per share fell below forecasts by $0.33. Moreover, investor sentiment was dented after First Solar forecasted its FY 2026 revenue to range between $4.9 billion and $5.2 billion, far below the consensus estimate of $6.16 billion. It is worth noting that the solar operator’s revenue grew by 24% YoY to $5.2 billion in FY 2025, so the guidance of flat-to-declining revenue for 2026 didn’t sit well with investors.
First Solar, Inc. (NASDAQ:FSLR) revealed that the reasons for the weak guidance included the strategic underutilization of its Southeast Asian factories, with the company describing its strategy as ‘buying some time to see how these tariffs ultimately get played out’. FSLR is expecting a total tariff impact of $125 million to $135 million this year.
First Solar, Inc. (NASDAQ:FSLR) drew significant negative reactions from Wall Street following the disappointing guidance, with the stock being downgraded outright by Freedom Capital, Deutsche Bank, HSBC, and Baird. Moreover, analysts at JP Morgan, Mizuho, Susquehanna, UBS, RBC Capital, and Jefferies also reduced their price targets for FSLR.
2. Talos Energy Inc. (NYSE:TALO)
Share Price Decline Between Feb. 18 – Feb. 25: 13.71%
Talos Energy Inc. (NYSE:TALO) is a leading energy company focused on offshore oil and gas exploration and production in the United States Gulf Coast, the Gulf of America, and offshore Mexico.
Talos Energy Inc. (NYSE:TALO) reported lower-than-expected results for Q4 2025 on February 24, with the company’s adjusted loss per share of $0.44 missing estimates by $0.11. Revenue for the quarter also declined by over 19% YoY to $392.2 million and fell below consensus by $37 million. Talos reported a net loss of $202.6 million in Q4, driven in part by non-cash impairment of $170 million. Meanwhile, net loss for the full-year 2025 came in at $494.3 million.
Despite the challenges, Talos Energy Inc. (NYSE:TALO) maintained strong cost management throughout 2025, with its operating costs on average 30% lower than the offshore peer group average. Moreover, the company generated around $72 million in free cash flow improvements in the year, far exceeding its initial target of $25 million.
Talos Energy Inc. (NYSE:TALO) was recently included in our list of the 12 Best Crude Oil Stocks to Buy as Tensions Rise.
1. Atlas Energy Solutions Inc. (NYSE:AESI)
Share Price Decline Between Feb. 18 – Feb. 25: 19.65%
Topping our list of Energy Stocks that Lost This Week is Atlas Energy Solutions Inc. (NYSE:AESI). The company engages in the production, processing, and sale of frac sand used as proppants during well completions in the Permian Basin of West Texas and New Mexico.
Atlas Energy Solutions Inc. (NYSE:AESI) slumped after reporting its Q4 2025 results on February 23, with the company’s adjusted loss of $0.21 per share falling behind estimates by $0.02. Atlas reported a net loss of $22.2 million for the quarter, a stark reversal from a net income of $14.4 million in the same period in 2024. Meanwhile, the company reported a net loss of $50.3 million for the full-year 2025, versus a net income of $60 million in the previous year. AESI’s revenue of $249.4 million for Q4 was also down by 8% YoY, but still managed to top expectations by almost $10 million.
Atlas Energy Solutions Inc. (NYSE:AESI) delivered adjusted EBITDA of $36.7 million in the fourth quarter and expects its Q1 2026 adjusted EBITDA to be approximately flat with Q4 levels. The company revealed that the recent winter storm severely impacted its operations in the Permian and is expected to negatively impact its Q1 EBITDA by approximately $6 million.
Despite the tough Q4 report, Stifel analyst Stephen Gengaro slightly raised the firm’s price target on Atlas Energy Solutions Inc. (NYSE:AESI) from $13 to $14 on February 25. The analyst also maintained the firm’s ‘Buy’ rating on the shares.
While we acknowledge the potential of AESI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AESI and that has 100x upside potential, check out our report about this cheapest AI stock.
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