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.
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Source: Fool.com
Pioneer Natural Resources Stock
€251.70
0.610%
Currently there is a rather positive sentiment for Pioneer Natural Resources with 4 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 236 € is below the current price of 251.7 € for Pioneer Natural Resources, so the potential is actually -6.24%.
