|Bid||113.850 x 1000|
|Ask||113.890 x 800|
|Day's Range||112.37 - 116.19|
|52 Week Range||93.31 - 163.11|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||8.57|
|Earnings Date||Feb 18, 2019 - Feb 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||164.45|
In this daily bar chart of CXO, below, we can see that prices have yet to establish a new uptrend - a pattern of higher lows and higher highs. The volume pattern from the December low has yet to display increasing volume nor a strongly rising On-Balance-Volume (OBV) line. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line in recent weeks and thus not giving us a sign of trend strength.
Mizuho Securities USA LLC analyst Paul Sankey asked executives on a conference call Wednesday whether the company had altered its view about putting the company up for sale. “The big idea, I think two or three years ago, maybe longer, was that you would sell the company,” Sankey said. “I guess you’re getting too big to sell yourselves, right?” Sankey asked.
Almost all the independent producers have reduced their budgets for 2019, but many still expect to deliver double-digit growth in production this year, fourth-quarter earnings reports show. The tumble in oil prices at the end of 2018, combined with investor demands for fiscal discipline, has prompted most shale executives to only invest what they earn in cash flow, ending years of debt-fueled growth. On average, U.S. explorers have cut their capital budgets 4 percent but are predicting a 7 percent increase in production, according to RS Energy Group, a Calgary-based researcher.
Oil Market: Analyzing Key Trends(Continued from Prior Part)Brent-WTI spread On February 19, Brent crude oil April futures settled ~$10 higher than WTI crude oil April futures—near its four-month high. On February 12, the spread was ~$8.95. Lately,
Pioneer Natural Resources: Key Price Points in FebruaryImplied volatility On February 19, Pioneer Natural Resources’ (PXD) implied volatility was 28.8%, which is ~19.6% lower than its 15-day average. On the same day, Noble Energy (NBL) and Concho
Concho (CXO) slashes 2019 capex by 17% from its prior guidance amid weak oil prices, in an effort to boost cash flows and focus on shareholder value maximization.
The Midland, Texas-based company said it had profit of $7.55 per share. Earnings, adjusted for non-recurring gains, were 94 cents per share. The results fell short of Wall Street expectations. The average ...
Check out the companies making headlines after the bell:Devon Energy DVN shares surged more than 6 percent after reporting fourth-quarter earnings and plans to separate its Canadian and Barnett Shale assets.
Concho Resources Inc reported quarterly profit that missed Wall Street estimates on Tuesday, sending shares of the shale firm lower in after-hours trading. Concho said in a news release that "capital discipline and moderating activity" would help it generate more cash this year. Concho Resources' net income rose to $1.5 billion, or $7.55 per share, in the fourth quarter ended Dec. 31, from $267 million, or $1.79 per share, a year earlier.
Concho Resources and Diamondback Energy fell short of earnings forecasts late Tuesday, after weaker-than-expected results from Continental Resources Monday.
Shares of Concho Resources Inc. fell nearly 5% in the extended session Tuesday after the oil and gas exploration and production company reported fourth-quarter earnings that missed Wall Street forecasts. Concho said it earned $1.5 billion, or $7.55 a share, in the quarter, compared with $267 million, or $1.79 a share, in the year-ago period. Adjusted for one-time items, Concho earned $189 million, or 94 cents a share, in the quarter, compared with $98 million, or 66 cents a share, a year ago. Total operating revenue reached $1.07 billion, compared with $780 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.11 a share on sales of $1.19 billion. Shares of Concho Resources ended the regular trading day down 1.6%.
Concho Resources Inc. announced that its Board of Directors declared a quarterly dividend of $0.125 per share on the Company’s outstanding common stock.
Cimarex Energy: Analysts' Recommendations and Target PriceAnalysts’ recommendationsBased on Reuters data from 27 analysts tracking Cimarex Energy (XEC), 63% recommended a “buy,” while 37% recommended a “hold.” None of the analysts
Concho Resources' Q4 Results Are Around the Corner—What to ExpectConcho Resources’ fourth-quarter earningsConcho Resources (CXO) is expected to report its fourth-quarter earnings results on February 19. The company is expected to report an
Why 'Buy' Recommendations for Concho Resources Have IncreasedWall Street analysts’ recommendations Based on Reuters data from 36 analysts tracking Concho Resources (CXO), 89% have given the stock “buys,” 11% have given it “holds,” and
Sunoco's (SUN) array of fuel distribution and terminal acquisitions are expected to be highly accretive to its distributable cash flows.
In Q4, Archrock (AROC) is expected to gain from strong fundamentals of natural gas compression business. Yet, rising capital expenditure remains a concern.
Diamondback Energy's (FANG) twin acquisitions of Energen Corporation and Ajax Resources should ensure high-octane production growth in Q4.
Saudi Arabia and U.S. oil majors, most based in Texas, have had a symbiotic economic relationship ever since oil was found in Dhahran in 1938.The oil superpowers and some oil stocks are riding high again, as Saudi Arabia launches a "shock and awe" campaign to raise oil prices.Goldman Sachs now expects prices for Brent North Sea oil, the world standard, to rise to $67.50 per barrel this spring, with OPEC production having already been cut by 800,000 barrels per day over the last few months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Texas Shale BoomOne result is that a shale oil boom that re-ignited in Texas last year is going to accelerate into 2019.The question is who will profit.The Texas Independent Producers and Royalty Owners Association (TIPRO) reports that the state's production in 2018 came to 1.54 billion barrels, up from 1.03 billion in 2017 and 20% ahead of the previous record set in 1973. This helped make the U.S. the world's largest oil producer, ahead of Russia and Saudi Arabia. * 10 'Buy-and-Hold' Stocks to Own Forever The boom in production is extending into 2019, with the Energy Information Agency reporting 11.9 million U.S. barrels per day came up the week of Feb. 8, compared with 10.25 million barrels during the same week a year ago. Wrong Oil?Oil stocks like Chevron (NYSE:CVX), which had been on a never-ending campaign of belt-tightening since the last bust in 2014, are now poised to reap the rewards.The reason, as I noted in writing about Exxon Mobil (NYSE:XOM) earnings on Feb. 1, is an infrastructure disconnect. There's not enough pipeline capacity for all this new shale production, and U.S. refineries have long been tuned to heavier grades of imported crude anyway.So while Permian independents like Concho Resources (NYSE:CXO), which produced 310,000 barrels of oil equivalent per day during the fourth quarter, expect to see prices rising from the $53.77 level they were at Feb. 14, they're not rising quickly as Kinder Morgan (NYSE:KMI) races to add pipeline capacity. Note that while it's now legal for the U.S. to export crude oil, the spread between WTI and Brent prices is over $10 per barrel.The biggest producers of "sour" or "heavy" crude, Venezuela and Iran, are subject to U.S. sanctions, while gasoline "crack spreads" -- the margin between the cost of crude and what refined products bring -- continue to fall. Refiners are now short the "heavy" crude they're accustomed to, while U.S. fracking companies deliver a bumper crop of "light" crude to the market.Oil that is easiest to refine and closest to the market, as on the U.S. West Coast, is now priced near $62 per barrel, while oil that can't reach the market, like Canadian Crude, is still selling at under $40 per barrel.The winners in this market would thus seem to be oil stocks that can trade oil, ship oil and arbitrage the price. But that's not the way the stock market sees it. The Bottom Line on Oil StocksExxon Mobil stock hit its high for the decade in early 2014, and is currently 17% below that figure, even with a rally that began in December. During this decade, Exxon has become a dividend stock, increasing the dividend in five years from 63 cents per share to 82 cents, yielding 4.3% at the company's price of about $76 per share on Feb. 14.Meanwhile, Concho Resources, which pays no dividend, has stock worth 23% more than five years ago. Since the start of 2019 Concho is up 16% while Exxon is up only 11%.This should be Exxon's market, but it's producers like Concho that are currently getting the love from investors due to higher production.I may be wrong, but it looks like investors are making a mistake.Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing, he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 U.S. Stocks That Are Coming to Life Again * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 5 Tips to Become a Better Stock Trader Compare Brokers The post This Are the Kind of Oil Stocks You Should Watch Right Now appeared first on InvestorPlace.
BP Capital, the hedge fund of legendary oil tycoon T Boone Pickens (Trades, Portfolio), disclosed six new positions in its fourth-quarter 2018 portfolio, which was released earlier this week. Warning! GuruFocus has detected 4 Warning Signs with ENLK. Based on these criteria, the firm established positions in EnLink Midstream Partners LP (ENLK), Marathon Petroleum Corp. (MPC), Continental Resources Inc. (CLR), Newfield Exploration Co. (NFX), Concho Resources Inc. (CXO) and Tellurian Inc. (TELL) during the quarter.