Here’s Why Concho Resources Inc’s Stock Is Crashing Today
Shares of Concho Resources (NYSE: CXO) slumped on Thursday, dropping more than 10% by 3:00 p.m. EDT after the company reported its second-quarter results.
Despite the implications of its plunging stock price, Concho Resources reported excellent second-quarter results. The Permian Basin-focused driller's adjusted net income more than doubled, to $77 million, or $0.52 per share, which was $0.09 per share ahead of expectations. Fueling that result was a 27% surge in production over the past year thanks to its high-return drilling program in the Permian.
Image source: Getty Images.
Source: Fool.com
Pioneer Natural Resources Aktie
251,70 €
0,61 %
Keine klare Tendenz: Bei Pioneer Natural Resources halten sich Buy- und Sell-Einschätzungen die Waage.
Für Pioneer Natural Resources ergibt sich ein negatives Potenzial von -8.22%, obwohl das Kursziel von 231 € unter dem aktuellen Kurs von 251.7 € liegt.
