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CXO - Concho Resources: Negative FCF And Impairment Concern The Market
Concho Resources Inc.
The Delaware and Midland basins focused E&P company Concho Resources (CXO) presented its 1H19 results on July 31; since then, the share price was under pressure, as half-year financials were worthy of concern, while the US market sentiment was sorely tested by inverted yield curve and other possible harbingers of recession. The underperformance was scaring.
Data by YCharts
In the peer group, Concho is, unfortunately, a clear laggard, while Hess (HES) is the best-performing stock, as the Guyana upside (and FCF prospects secured by appealing economics of the project) attracted new