Thursday, February 23, 2012, 3:40 PM
Concho Resources(CXO -2.84%) dips after its Q4 loss widened on higher derivative-related losses. Revenue growth however, was better-than-expected due to increased production and higher oil prices.
Comment![Energy, Earnings, On the Move]
Wednesday, February 22, 2012, 4:27 PMConcho Resources (CXO): Q4 EPS of $4.15 may not be comparable to consensus of $1.17. Revenue of $478M (+51.5% Y/Y) beats by $26M. Shares -3.5% AH. (PR)
Comment![Earnings, Energy, On the Move]
Thursday, December 22, 2011, 8:54 AM
Oil/gas producer Petroleum Development (PETD) gains 2.6% after agreeing to sell its assets in Texas' Permian Basin to Concho Resources (CXO) for $188M. The company plans to use the proceeds from the deal to "retire debt on the Company's revolving credit facility and provide liquidity to fund the Company's 2012 capital budget," which it estimates will be $284M.
Comment![Energy, On the Move, M&A]
Thursday, November 3, 2011, 2:42 PM
Concho Resources (CXO +2.2%) Q3 easily beats estimates, boosted by derivative gains and a surge in revenue. Earnings doubled, with oil production growth soaring over 73% as the production assets from its recent purchase of privately held Marbob Energy come on line.
Comment![Energy, On the Move]
Wednesday, November 2, 2011, 5:51 PMConcho Resources (CXO): Q3 EPS of $1.14 beats by $0.09. Revenue of $455M (+101% Y/Y) beats by $29M. (PR)
Comment![Earnings, Energy]
Tuesday, October 4, 2011, 10:23 AM
Wunderlich downgrades the oil and gas sector due to a lowered forecast for crude oil prices. The firm cuts the following companies to hold: BPZ Resources (BPZ -8.1%), Clayton Williams Energy (CWEI -9.1%), Concho Resources (CXO -4.1%) and Oasis Petroleum (OAS -8.6%). Additionally, it significantly lowers price targets for: Endeavour International (END -10%) to $9 from $18 and Abraxas Petroleum (AXAS -16%) to $3.50 from $8.
Comment![Energy, On the Move]
Tuesday, September 20, 2011, 10:44 AM
Deutsche initiates coverage of the drillers, saying liquids production growth will be a dominant driver over the next year. The following are started with a buy: Apache (APA +0.8%), Anadarko Petroleum (APC +2.1%), Noble Energy (NBL +3.6%), Newfield Exploration (NFX +1.5%), Pioneer Natural Resources (PXD +1.3%), Cimarex Energy (XEC +0.8%), Oasis Petroleum (OAS +1.7%), Concho Resources (CXO +2.1%), and SM Energy (SM +1%).
Comment![Energy, On the Move, Quick Ideas]
Wednesday, May 4, 2011, 5:09 PMConcho Resources (CXO): Q1 EPS of $0.79 beats by $0.02. Revenue of $361M (+81% Y/Y) beats by $33M. Shares +3.1% AH. (PR)
Comment![Earnings, Energy]
Friday, October 15, 2010, 12:48 PM
Concho Resources (CXO) pays $285M for oil and gas assets in the Permian Basin, and settles a legal fight with Apache (APA) and BP related to Concho's $1.66B purchase of Marbob Energy. Concho and Apache will partner in the new assets, which have estimated proved reserves of 12M barrels of oil equivalent.
Comment!
Wednesday, August 4, 2010, 4:40 PMConcho Resources (CXO): Q2 EPS of $0.63 beats by $0.09. Revenue of $215M (+69%) vs. $206M. (PR)
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Holly Thompson Concho Resources (CXO) initiated with a Buy at Societe Generale. Target $115.
4/25/12
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Holly Thompson Concho Resources (CXO) initiated with a Buy at Societe Generale. Target $115.
4/24/12
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Triple Double Advisors CRK-report of 2 big vertical Wolfbone wells in Reeves Co, rates 539Boe/d + 478Boe/d), CWEI, CXO & CHK also in Reeves Co
4/11/12
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Triple Double Advisors Concho Res CXO Update: New play Permian: has 45K net acres in the northern Midland Basin which is prospective to the Wolfcamp and Cline.