CXO - Consider Concho Resources A High-Quality Permian Play
Concho Resources (CXO) can grow production at a strong pace and operate within positive cash flows, even in a weak oil price environment. Although Concho Resources has planned for a $55 to $60 a barrel oil price scenario, the company is well positioned to face even weaker prices. I believe Concho is one of the highest-quality oil stocks, which investors should look to buy on weakness.
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Oil prices recovered slightly in 2019, with the price of the US benchmark WTI crude climbing to $50 at the time of this