Analysts and investors applaud Concho Resources' (CXO +3.2%) $1B buyout of Three Rivers' oil and...

|About: Concho Resources Inc. (CXO)|By:, SA News Editor
Analysts and investors applaud Concho Resources' (CXO +3.2%) $1B buyout of Three Rivers' oil and natural gas assets, sending shares higher when most energy stocks (XLE -1.6%) slumped. The “price looks good any way you slice it,” Tudor Pickering Holt says; it's "a good bolt-on transaction... which will further enhance their position in the Permian," Simmons & Co. says.