CXO - Concho Resources: Delivering Free Cash Flows In The Downturn
Concho Resources (CXO) has recently reported blowout quarterly results, marked by an earnings beat and free cash flows, and I believe the Midland, Texas-based oil producer will likely continue doing well in the future. The improvement in oil prices will lift the company's earnings, and it looks well-positioned to continue generating free cash flows in the coming quarters.
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Earnings Recap & Review
Concho Resources' revenues and earnings plunged, which was widely expected, as oil prices dropped to historic lows in the second quarter. But the company still delivered decent production numbers,