What Happened?
A number of stocks fell in the afternoon session after signals of de-escalation in the U.S.-Iran conflict caused oil prices to fall, removing a key support for the energy sector.
The drop in crude prices came after President Trump suggested the U.S. could wind down its military campaign against Iran within weeks, and Iran's president stated a readiness to end the war. This news unwound the "war premium" that had boosted oil stocks during the conflict. As a result, West Texas Intermediate (WTI) crude oil fell about 2% to trade below $101 a barrel. The decline was also fueled by traders taking profits after a strong run in energy stocks.
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:
- Upstream Natural Gas E&P company Comstock Resources (NYSE: CRK) fell 6.3%. Is now the time to buy Comstock Resources? Access our full analysis report here, it’s free.
- Oilfield Services company Patterson-UTI (NASDAQ: PTEN) fell 4.6%. Is now the time to buy Patterson-UTI? Access our full analysis report here, it’s free.
- Oilfield Services company Atlas Energy Solutions (NYSE: AESI) fell 6.7%. Is now the time to buy Atlas Energy Solutions? Access our full analysis report here, it’s free.
- Oilfield Services company ProPetro (NYSE: PUMP) fell 3.8%. Is now the time to buy ProPetro? Access our full analysis report here, it’s free.
- U.S. Shale E&P company Texas Pacific Land (NYSE: TPL) fell 4.3%. Is now the time to buy Texas Pacific Land? Access our full analysis report here, it’s free.
Zooming In On Atlas Energy Solutions (AESI)
Atlas Energy Solutions’s shares are extremely volatile and have had 37 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 5 days ago when the stock dropped 4.8% on the news that escalating geopolitical tensions in the Middle East sparked a surge in oil prices and a sharp drop in consumer confidence. The conflict's impact on global energy supplies sent Brent crude, the international benchmark, soaring to $110.
This spike fueled concerns about a new wave of inflation, a worry reflected in recent consumer surveys. The University of Michigan's latest report revealed that consumer sentiment plummeted in March, as households brace for higher prices. This bleak economic outlook had investors on edge, pushing major indices like the Dow and S&P 500 into a steep selloff and toward a fifth consecutive losing week. The situation also shifted expectations for Federal Reserve policy, with markets pricing in delayed rate cuts to combat rising inflation.
Atlas Energy Solutions is up 24.1% since the beginning of the year, but at $12.07 per share, it is still trading 34.4% below its 52-week high of $18.40 from April 2025. Investors who bought $1,000 worth of Atlas Energy Solutions’s shares at the IPO in March 2023 would now be looking at an investment worth $711.80.
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