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Concho Resources (CXO) may have disappointed some shareholders with its latest quarterly results, but I think investors should continue to hold this stock since the Permian Basin oil producer's earnings and free cash flows are poised to soar in the near future.
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Concho Resources' latest quarterly results were underwhelming. The first quarter was a difficult period for all oil producers as the weakness in commodity prices dragged their earnings and cash flows. However, most oil producers remained profitable while some, such as Diamondback Energy (FANG) which I