71.62 0.00 (0.00%)
After hours: 4:43PM EST
|Bid||71.68 x 800|
|Ask||71.71 x 900|
|Day's range||71.00 - 73.21|
|52-week range||61.37 - 139.99|
|Beta (3Y monthly)||1.25|
|PE ratio (TTM)||11.27|
|Earnings date||29 Oct 2019|
|Forward dividend & yield||0.50 (0.70%)|
|1y target est||101.73|
Today we are going to look at Concho Resources Inc. (NYSE:CXO) to see whether it might be an attractive investment...
Oil and gas drillers are accelerating drilling on public lands in order to mitigate the risk that Warren or Sanders become president and ban all fracking
Benchmarks closed in the negative territory on Tuesday due to Alphabet's weak earnings report and uncertainties in timely completion of U.S-China Phase one deal.
(Bloomberg) -- Independent shale producer Concho Resources Inc. said it’s tapping federal acreage for drilling now in case the U.S. elects a president who favors a fracking ban.Democratic presidential candidates including Elizabeth Warren and Bernie Sanders have said they support a moratorium on fracking on federal lands. While such a move would likely meet strong legal challenges, the possibility is prompting some oil producers to discuss what it could mean.Concho Chief Executive Officer Tim Leach said Wednesday his company has “quite a bit of activity” on federal lands in New Mexico and is prepared to move rigs across the state line into Texas if the politics of the White House change.“Today, sentiment toward the sector is low and amplified by campaign promises to severely limit or regulate oil and gas operations,” Leach said on a third-quarter earnings call Wednesday morning. Concho’s exposure to federal acreage is about 20% of its total position, he said.“We have a great deal of flexibility if we need to reallocate that capital,” Leach said.To contact the reporter on this story: Rachel Adams-Heard in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Concho Resources' (CXO) average quarterly production of 329,803 barrels of oil equivalent per day (Boe/d) surpassed the Zacks Consensus Estimate of 323,541 Boe/d.
Concho Resources (CXO) delivered earnings and revenue surprises of -7.58% and 2.85%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
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Production from the Permian Basin of Texas and New Mexico is set to climb by 71,000 barrels per day to a record of about 4.485 million barrels per day in October.
While Concho Resources (CXO) is looking to boost the value of its legacy assets and minimize cost structure, Crescent Point Energy (CPG) is focusing on debt reduction.