KLR Group Raises Price Target on Concho Resources (CXO) to $153; Reiterates Accumulate
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Concho Resources Inc. Reports Second Quarter 2016 Results
August 2, 2016 4:15 PM EDTMIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (the Company or Concho) today reported financial and operating results for the second quarter of 2016.
Second-Quarter 2016 Highlights
Delivered quarterly production of 13.2 million Boe, or 145.2 MBoepd, exceeding the high end of the Companys guidance. Raised full-year 2016 production outlook to a range of 0% to 2% annual growth and maintained capital expenditure outlook. Reduced per-unit lease operating expense by 20% year-over-year and quarter-over-quarter and lowered full-year 2016 guidance for per-unit lease operating expense.... More