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Zacks News
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.
Halliburton (HAL) Q3 Earnings: Permian Constraints a Worry
by Nilanjan Choudhury
Pipeline takeaway capacity constraints in the Permian Basin seems to be the primary reason for apprehension about Halliburton's (HAL) Q3 results.
Should Invesco Russell 1000 Equal Weight ETF (EQAL) Be on Your Investing Radar?
by Zacks Equity Research
Style Box ETF report for EQAL
Oil Prices Rally Above $70 a Barrel: Buy These 3 E&P Stocks
by Nilanjan Choudhury
With crude prices picking up steam, this is the perfect time to indulge in some energy stocks to make sure your portfolio is perfectly oiled up!
Pipeline Pinch Plagues Permian Play: Winners and Losers
by Rimmi Singhi
Producers' pain amid pipeline woes is likely to translate into midstream and refiners' gain.
Why Is Concho Resources (CXO) Down 2.4% Since Last Earnings Report?
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.
Should Invesco Russell 1000 Equal Weight ETF (EQAL) Be on Your Investing Radar?
by Sweta Killa
Style Box ETF report for EQAL
The Zacks Analyst Blog Highlights: Matador, Continental Resources, Pioneer, Anadarko, Concho and EOG
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Matador, Continental Resources, Pioneer, Anadarko, Concho and EOG
Shale Earnings Analysis: Winners and Losers From Q2
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.
Oil & Gas Stock Roundup: BP, Apache & Concho's Q2
by Nilanjan Choudhury
On the news front, major energy players BP plc (BP), Apache Corporation (APA) and Concho Resources (CXO) reported strong second-quarter earnings.
Should Invesco Russell 1000 Equal Weight ETF (EQAL) Be on Your Investing Radar?
by Zacks Equity Research
Style Box ETF report for EQAL
Concho (CXO) Q2 Earnings Beat on Price and Volume Gain
by Zacks Equity Research
Concho (CXO) expects its third-quarter output levels between 280 MBoe/d and 285 MBoe/d.
Concho Resources (CXO) Q2 Earnings and Revenues Surpass Estimates
by Zacks Equity Research
Concho Resources (CXO) delivered earnings and revenue surprises of 34.78% and 10.29%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
Oil Stocks Reporting Q2 Earnings on Aug 1: APA, CXO & Others
by Zacks Equity Research
The oil/energy sector's performance has lived up to expectations so far in Q2.
What's in the Cards for Concho (CXO) This Earnings Season?
by Zacks Equity Research
Increased production volumes and higher crude prices are likely to aid Concho's (CXO) second-quarter 2018 results amid weak realized natural gas prices.
Why Concho Resources (CXO) Could Beat Earnings Estimates Again
by Zacks Equity Research
Concho Resources (CXO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
QEP Resources to Sell Uinta Assets, Deepen Focus in Permian
by Zacks Equity Research
QEP Resources (QEP) enters into a $155-million deal with Middle Fork Energy Partners to sell its non-core Uinta assets and streamline portfolio.
Oasis Petroleum to Vend Non-Core Williston Assets for $283M
by Zacks Equity Research
Oasis Petroleum (OAS) remains committed to evaluate and vend the additional non-pivotal acreage in order to streamline portfolio and strengthen its position in the prolific Delaware Basin.
Why You Should Add Parsley (PE) Stock to Your Portfolio Now?
by Zacks Equity Research
Parsley's (PE) strong foothold in the prolific Permian Basin has been quite a boon to the company's performance for quite some time now.
Concho Resources (CXO) Down 12.6% Since 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.
U.S. Retains World's Top Petroleum Producer Status for 2017
by Nilanjan Choudhury
Federal data showed that the U.S. produced more petroleum liquids and natural gas than any other nation for the sixth consecutive year in 2017.
Concho (CXO) Q1 Earnings Top on Price & Output, Guidance Up
by Zacks Equity Research
Concho Resources (CXO) delivers robust first-quarter 2018 results. The company raises production outlook for 2018, expecting total output to grow 18-20%.
Why Earnings Season Could Be Great for Concho Resources (CXO)
by Zacks Equity Research
Concho Resources (CXO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
5 Energy Stocks to Power Your Portfolio This Earnings Season
by Zacks Equity Research
Energy sector will likely be the key driver for S&P 500's Q1 earnings growth.
Output & Price Gains to Boost Concho's (CXO) Q1 Earnings
by Zacks Equity Research
Aided by rebounding crude prices and strong production growth, Concho (CXO) is likely to keep its earnings streak alive this quarter as well.
Here's Why You Should Scoop Up W&T Offshore Stock Right Now
by Nilanjan Banerjee
W&T Offshore's (WTI) cash balance rises 41% through 2017 and long-term debt declines 4.3%.