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Concho Resources Inc., based in Midland, TX, is an independent oil and gas explorer and producer. Founded in 2004, the company focuses on growth through a combination of acquisitions and active drilling in the lucrative Permian Basin spread over west Texas and New Mexico. In July 2018, the company acquired rival RSP Permian Inc. in a $9.5 billion deal. The acquisition – by far the largest in its history – added 92,000 acres of complementary holdings to Concho Resources’ Permian portfolio. The company, which went public in 2007, currently owns roughly, 550,000 net acres in the Permian Basin and is one of the largest producers from the unconventional shale. As of year-end 2019, Concho Resources’ proved reserves tally stood at 1 billion oil-equivalent barrels (62% oil). The company produced approximately 120.8 million barrels of oil equivalent of oil and gas last year, of which more than 63% was oil. Concho Resources is planning on delivering production growth of around 6% to 8% in 2020 while increasing its oil output by 10% to 12% this year versus 2019 levels. The company initiated a dividend program in the first quarter of 2019 and has set a capital investment budget of $2.6 billion to $2.8 billion for this year.
Oil & Gas Stock Roundup: Shell, BP & ConocoPhillips Post Q1 Earnings Beat
by Nilanjan Choudhury
European oil majors Royal Dutch Shell (RDS.A) and BP plc (BP), as well as energy explorer ConocoPhillips (COP) reported better-than-expected first-quarter earnings.
Concho (CXO) Misses on Q1 Earnings, Lifts Output Guidance
by Zacks Equity Research
Concho Resources (CXO) now expects 2019 oil output to grow 27-31% y/y versus prior forecast of 26-30%.
Concho Resources (CXO) Q1 Earnings Lag Estimates
by Zacks Equity Research
Concho Resources (CXO) delivered earnings and revenue surprises of -1.37% and 5.23%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
Key Factors to Impact Concho Resources' (CXO) Q1 Earnings
by Nilanjan Choudhury
Two major areas of interest - output growth and oil price realizations - are sending mixed signals with regard to Concho Resources' (CXO) results in the upcoming quarter.
Analysts Estimate Concho Resources (CXO) to Report a Decline in Earnings: What to Look Out for
by Zacks Equity Research
Concho Resources (CXO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PDCE vs. CXO: Which Stock Is the Better Value Option?
by Zacks Equity Research
PDCE vs. CXO: Which Stock Is the Better Value Option?
Concho-Frontier JV to Bet on Permian Midstream Start-Up
by Zacks Equity Research
Beta Crude Connector is going to aid in the transportation of Concho's (CXO) growing production in the Northern Midland Basin in the Permian play.
Oil ETFs Surge as Chevron Plans to Buy Anadarko
by Sweta Killa
The deal news has sparked a new wave of mergers and acquisitions in the energy sector, boosting shares of shale oil companies and ETFs.
Concho Resources (CXO) Looks Good: Stock Adds 8.8% in Session
by Zacks Equity Research
Concho Resources (CXO) saw a big move last session, as its shares jumped nearly 9% on the day, amid huge volumes.
Oil & Gas Stock Roundup: Concho Midstream Monetization, Noble Energy Project Approval
by Nilanjan Choudhury
Permian operator Concho Resources (CXO) handed over its stake in a large midstream infrastructure system in the region to a private equity fund.
U.S. Rig Count Drops for the Third Consecutive Month
by Zacks Equity Research
Conservative investments in U.S. exploration and production activities might affect demand for rigs. Hence, drillers may continue to lower rig count in the coming months.
PDCE vs. CXO: Which Stock Should Value Investors Buy Now?
by Zacks Equity Research
PDCE vs. CXO: Which Stock Is the Better Value Option?
Concho (CXO) Monetizes Permian Midstream Assets: Here's Why
by Zacks Equity Research
Concho (CXO) decides to sell Oryx I gathering system at a substantial premium to the originally invested capital.
Permian Basin & Eagle Ford Remove 5 Oil Drilling Rigs Each
by Zacks Equity Research
The tally for oil drilling rigs in the United States fell for six successive weeks to the lowest level since April 2018.
Permian Sees Drop in Oil Rig Count for 4 Straight Weeks
by Zacks Equity Research
Explorers and producers are getting more conservative about investing over volatile oil prices.
Concho Resources (CXO) Down 2.5% Since Last Earnings Report: Can It Rebound?
by Zacks Equity Research
Concho Resources (CXO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Cana Woodford & Mississippian Witness Decline in Oil Rigs
by Zacks Equity Research
In the United States, the tally for oil drilling rigs fell to the lowest mark since April 2018.
U.S. Rig Count Falls for the Second Consecutive Month
by Zacks Equity Research
Conservative investments in U.S. exploration and production activities might affect demand for rigs. Hence, drillers may continue to lower rig count in the coming months.
The Zacks Analyst Blog Highlights: Matador, Continental Resources, Pioneer Natural, Diamondback and Concho
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Matador, Continental Resources, Pioneer Natural, Diamondback and Concho
Permian Basin Witnesses Removal of 7 Oil Drilling Rigs
by Zacks Equity Research
The tally for rigs exploring oil in the United States slips to the lowest mark since May 2018.
Shale Oil Q4 Earnings Falter on Commodity Price Meltdown
by Nilanjan Choudhury
Missed the slew of shale oil earnings? Here's a quick run-through of how some of the bigwigs fared in their earnings reports.
Cana Woodford Basin Witnesses Removal of 3 Oil Drilling Rigs
by Zacks Equity Research
The count of drilling rigs exploring resources in the United States declines after increasing for two straight weeks.
Parsley's (PE) Q4 Earnings Miss on Low Price Realizations
by Zacks Equity Research
Parsley's (PE) proved reserves increase 25% on a year-over-year basis to 521.7 MMBoe as of Dec 31, 2018.
Stock Market News For Feb 20, 2019
by Zacks Equity Research
Benchmarks posted modest gains on Tuesday as another round of U.S.- China trade talks kickstarted in Washington this week.
Concho (CXO) Lags Q4 Earnings Estimates, Cuts Capex View
by Zacks Equity Research
Concho (CXO) slashes 2019 capex by 17% from its prior guidance amid weak oil prices, in an effort to boost cash flows and focus on shareholder value maximization.