concho resources stock

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Share your opinion and gain insight from other stock traders and investors. Highlights of the transaction include: “The leadership and boards of both companies believe today’s transaction is an affirmation of our commitment to lead a structural change for our vital industry,” said Ryan Lance, ConocoPhillips chairman and chief executive officer. A financial framework that delivers greater than 30 percent of cash from operations via compelling dividends and additional distributions. Lance continued, “Opportunities to consolidate quality on the scale of these two companies do not come along often, so we are seizing this moment to create a company to lead the necessary transformation of our vital sector for the benefit for all stakeholders in the future.”. Forward-looking statements relate to future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, the expected amount and timing of synergies from the proposed transaction, and the anticipated closing date for the proposed transaction and other aspects of our operations or operating results. Our strategy has allowed us to consistently increase our production and reserves at low costs and to … The stock of Concho Resources closed Friday at $48.60 and was falling 1.05% to $48.08 in trading Monday. Find the latest Concho Resources Inc. (CXO) stock discussion in Yahoo Finance's forum. This communication relates to a proposed business combination transaction between ConocoPhillips and Concho Resources. Stock analysis for Concho Resources Inc (CXO) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Importantly, the transaction meets our long-stated and clear criteria for mergers and acquisitions because it is completely consistent with our financial and operational framework.”, “Through this combination, we are joining a diversified energy company with even more scale and resources to create shareholder value in today’s markets and beyond,” said Tim Leach, chairman and chief executive officer of Concho Resources. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as financial advisors to Concho. Concho acquires the assets of Three Rivers Operating Company for approximately $1 billion, significantly adding to the Company’s positions in the core northern Delaware Basin play, the Midland Basin Wolfberry play, and the emerging southern Midland Basin horizontal Wolfcamp play. To listen to the call and view related presentation materials, go to www.conocophillips.com/investor. Forward-looking statements represent management’s current expectations and are inherently uncertain and are made only as of the date hereof. HOUSTON & MIDLAND, Texas – ConocoPhillips (NYSE: COP) and Concho Resources (NYSE: CXO) today announced that they have entered into a definitive agreement to combine companies in an all-stock transaction. Revenue) or per share (e.g. ConocoPhillips announced in October that it was buying Concho for $9.7 billion. High-quality balance sheet that offers superior sustainability, resilience and flexibility across price cycles. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. ConocoPhillips has also created a section of its web site to keep its stakeholders apprised of the process. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 16 countries, $63 billion of total assets, and approximately 9,700 employees at June 30, 2020. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Except as required by law, neither ConocoPhillips nor Concho Resources undertakes or assumes any obligation to update any forward-looking statements, whether as a result of new information or to reflect subsequent events or circumstances or otherwise. Investors and security holders will be able to obtain free copies of the registration statement and joint proxy statement/prospectus (if and when available) and other documents containing important information about ConocoPhillips, Concho Resources and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. ConocoPhillips completed the acquisition of shale producer Concho Resources after receiving shareholder approval of both companies. DNB Asset Management AS’s […] Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, representing a 15 percent premium to closing share prices on October 13. This document is not a substitute for the joint proxy statement/prospectus or registration statement or any other document that ConocoPhillips or Concho Resources may file with the SEC. Together, the two companies have a combined value of about $60 billion. MarketWatch.com reported on 12/11/20 that Concho Resources Inc. stock falls Friday, underperforms market. We are working today to deliver a better tomorrow for our shareholders, people and communities. risk, allowing investors to make better decisions and streamline their work ow. You may obtain free copies of these documents from ConocoPhillips or Concho Resources using the sources indicated above. Disclaimer | balance sheet and inputs from the stock market. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, … Moody’s Daily Credit Risk Score is a 1-10 score of a company’s credit risk, based on an analysis of the firm’s Through consolidation, we will apply our assets, capabilities and superior performance to the business model of the future, creating a better-capitalized company with enhanced capital discipline, more flexibility and an unwavering commitment to sustainability. $65.60. ConocoPhillips The combined company will have competitive advantages across sector fundamentals: Upon closing, Concho’s Chairman and Chief Executive Officer Tim Leach will join ConocoPhillips’ board of directors and executive leadership team as executive vice president and president, Lower 48. Data is currently not available. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to ConocoPhillips, and Wachtell, Lipton, Rosen & Katz is serving as ConocoPhillips’ legal advisor. Concho partially funds the acquisition with a $520 million divestiture of non-core Permian Basin assets. Investor Relations UKX FTSE 100 LSE. Concho Resources Inc. (NYSE:CXO) went down by -3.07% from its latest closing price compared to the recent 1-year high of $93.34. Vice President of Investor Relations & Public Affairs Column: Billions of people at risk from heating fuel shortages? Their average twelve-month price target is $69.99, predicting that the stock has a possible upside of 6.69%. The transaction combines two high-quality industry leaders to create a company with an approximately $60 billion enterprise value that will offer stakeholders a superior investment choice for sustainable performance and returns through cycles. Additional information regarding this transaction and accompanying presentation can be found on the ConocoPhillips Investor Relations website and in filings with the Securities and Exchange Commission (the “SEC”). Find the latest analyst research for Concho Resources Inc. Common Stock (CXO) at Nasdaq.com. However, the absence of these words does not mean that the statements are not forward-looking. Concho's stock is currently halted for news. All rights reserved. What’s Tesla stock up to? “Concho is a tremendous fit with ConocoPhillips. Concho Resources (NYSE:CXO) Intraday Stock Chart Tuesday 19 January 2021 Your Recent History LSE. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. account day-to-day movements in market value compared to a company’s liability structure. In light of the pending merger, ConocoPhillips has suspended share repurchases until after the transaction closes. investor.relations@conocophillips.com U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K and other reports and filings with the SEC. Information about the directors and executive officers of ConocoPhillips, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in ConocoPhillips’ proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on March 30, 2020, and ConocoPhillips’ Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on February 18, 2020, as well as in Forms 8-K filed by ConocoPhillips with the SEC on May 20, 2020 and September 8, 2020, respectively. Each of ConocoPhillips and Concho Resources may also file other relevant documents with the SEC regarding the proposed transaction. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). Stock Quote Header. Updated daily, it takes into However, these statements are not guarantees of future performance and involve certain risks, uncertainties, and other factors beyond our control. Registration on or use of this site constitutes acceptance of our, ConocoPhillips closes deal for Concho, creating largest independent oil producer, 7 Energy Stocks To Sell Before They Fall Any Further, 10 Hot Stocks That Are Leading a Monster-Sized Rally in Small-Caps, 3 Reasons Growth Investors Will Love Concho Resources (CXO), T. Rowe Price Associates, Inc. (Investment Management), Capital Research & Management Co. (Global Investors), Capital Research & Management Co. (International Investors), American Funds Investment Company of America, Chief Accounting Officer & Vice President, Chief Financial Officer, Treasurer & Senior VP, Chief Information Officer & Vice President, Chief Operating Officer & Executive Vice President, Senior VP-Corporate Engineering & Planning, Senior Vice President-Operations & Production. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. john.c.roper@conocophillips.com Concho Resources (CXO) Reports Next Week: Wall Street Expects Earnings Growth Oct. 21, 2020 at 12:32 p.m. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for a fixed ratio of 1.46 shares of ConocoPhillips common stock, representing a 15 percent premium to closing share prices on October 13. Commerce Policy | Company insiders that have bought Concho Resources stock in the last two years include Brenda R Schroer, Gary A Merriman, Jack F Harper, Mark B Puckett, and Susan J Helms. Concho Resources Inc. (NYSE:CXO) price on Thursday, Dec 24, dropped -1.53% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $57.46. 281-293-5000 In the meantime, an integration planning team consisting of representatives from both companies will be formed to ensure required business processes and programs are implemented seamlessly post-closing. For more information, go to www.conocophillips.com. The company delivers production growth from continuing operations of 20% and year-over-year crude oil growth of 25%. Dividend). Concho Resources (NYSE: CXO) is one of the largest unconventional shale producers in the Permian Basin, with operations focused on safely and efficiently developing oil … BORING. Elevated commitment to environmental, social and governance excellence with a newly adopted Paris-Aligned Climate Risk strategy, available at. Together, the two companies have a combined value of about $60 billion. 6 million barrels of oil equivalent with a capital budget of approximately $1. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Concho nearly doubles its drilling locations, identifying approximately 22,000 locations at year-end. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Made In NYC | ConocoPhillips declined 1.72% to $33.19. Concho Resources "This acquisition results in the combination of two premier companies that can lead the structural change for our vital industry that’s critical to investors. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. We may use the term “resource” in this news release that the SEC’s guidelines prohibit us from including in filings with the SEC, and any reserve estimates provided in this news release that are not specifically designated as being estimates of proved reserves may include “potential” reserves and/or other estimated reserves not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. “Thanks to our team, Concho is one of the largest unconventional shale producers in the United States, with a high-quality asset base, a culture of operational excellence, safety and efficiency, and a strong balance sheet. The score provides a forward-looking, one-year measure of credit Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. 25 Wall Street analysts have issued ratings and price targets for Concho Resources in the last 12 months. HOUSTON AND MIDLAND - ConocoPhillips (NYSE: COP) and Concho Resources (NYSE: CXO) today announced that they have entered into a definitive agreement to combine companies in an all-stock transaction. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be … Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. Participants in the Solicitation – ConocoPhillips, Concho Resources and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Concho Resources Inc. company facts, information and financial ratios from MarketWatch. The transaction is subject to the approval of both ConocoPhillips and Concho stockholders, regulatory clearance and other customary closing conditions. Concho was built on a strategy of investing in high-quality, high rate-of-return projects, executing large, safe and efficient drilling programs and maintaining a strong financial position. The company’s stock price has collected -8.86% of loss in the last five trading sessions. For more information about Concho, visit www.concho.com. The transaction is expected to close in the first quarter of 2021. ConocoPhillips announced in October that it was buying Concho for $9.7 billion. Some good news on the M&A front has oil stocks rallying today, but uncertainty about the economy grows as Wells Fargo and Bank of America decline. Sullivan & Cromwell LLP is acting as legal advisor to Concho. These risks, as well as other risks related to the proposed transaction, will be included in the registration statement on Form S-4 and joint proxy statement/prospectus that will be filed with the SEC in connection with the proposed transaction. 432-818-1387 29dk2902l, What kind of error? 281-293-1451 Concho Resources is an independent oil and natural gas company that acquires, develops, and explores oil and natural gas properties. Concho produces 33. Jan 19, 2021. John C. Roper (media) Information about the directors and executive officers of Concho Resources, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Concho’s proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on March 16, 2020, and Concho’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on February 19, 2020. IOF Iofina FX. Please review www.conocophillips.com/concho for more information. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Concho Resources Inc stock rating and analysis - : a summary of key financial strength and profitability metrics. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. From our position of strength and in light of market trends, our board of directors and management team evaluated a wide range of options and unanimously determined that combining with ConocoPhillips is the best path forward for Concho and our shareholders. The high price target for CXO is $118.00 and the low price target for CXO is … GBPUSD UK Sterlin.. Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously. GKP Gulf Keyst.. LSE. Get the hottest stocks to trade every day before the market opens 100% free. The following important factors and uncertainties, among others, could cause actual results or events to differ materially from those described in these forward-looking statements: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas and the resulting actions in response to such changes, including changes resulting from the imposition or lifting of crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining, or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of ConocoPhillips’ business; ConocoPhillips’ ability to collect payments when due under ConocoPhillips’ settlement agreement with PDVSA; ConocoPhillips’ ability to collect payments from the government of Venezuela as ordered by the ICSID; ConocoPhillips’ ability to liquidate the common stock issued to ConocoPhillips by Cenovus Energy Inc. at prices ConocoPhillips deems acceptable, or at all; ConocoPhillips’ ability to complete ConocoPhillips’ other announced dispositions or acquisitions on the timeline currently anticipated, if at all; the possibility that regulatory approvals for ConocoPhillips’ other announced dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of such announced dispositions, acquisitions or ConocoPhillips’ remaining business; business disruptions during or following ConocoPhillips’ other announced dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from such dispositions in the manner and timeframe ConocoPhillips currently anticipates, if at all; potential liability for remedial actions under existing or future environmental regulations and adverse results in litigation matters, including the potential for litigation related to the proposed transaction; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; changes in fiscal regime or tax, environmental and other laws applicable to the combined company’s business; disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; ConocoPhillips’ ability to successfully integrate Concho’s businesses and technologies; the risk that the expected benefits and synergies of the proposed transaction may not be fully achieved in a timely manner, or at all; the risk that ConocoPhillips or Concho Resources will be unable to retain and hire key personnel; the risk associated with ConocoPhillips’ and Concho’s ability to obtain the approvals of their respective stockholders required to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the risk that any regulatory approval, consent or authorization that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; uncertainty as to the long-term value of ConocoPhillips’ common stock; and the diversion of management time on transaction-related matters. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. QPP Quindell FTSE. Today’s transaction brings together two companies with the leadership, assets and a capital allocation approach to generate growing free cash flow, supported by a top-tier investment-grade balance sheet that provides investors with sustainability, resilience and flexibility. Source: FactSet. 76.4% of retail CFD accounts lose money, * Average Estimates in Million (e.g. Perpetual Energy Inc. receives Alberta Court of Appeal judgment relating to the Sequoia Disposition, Corporate hierarchy changed significantly for wells drilled – Western Canadian Sedimentary Basin. Concho Resources Inc. is an American energy company engaged in hydrocarbon exploration, incorporated & organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin. ConocoPhillips buys Concho Resources for $9.7 billion in stock ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources … ... Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. ConocoPhillips to buy Concho Resources in an all-stock deal valued at nearly $10 billion ConocoPhillips announced Monday a deal to buy share producer Concho Resources Inc. in an all-stock deal valued at $9.7 billion. Nasdaq 100. No Offer or Solicitation – This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This transaction will enhance the company’s competitive position in Midland. Copies of the documents filed with the SEC by Concho Resources will be available free of charge on Concho’s website at https://ir.concho.com/investors/. Concho Resources (NYSE: CXO) is one of the largest unconventional shale producers in the Permian Basin, with operations focused on safely and efficiently developing oil and natural gas resources. DNB Asset Management AS increased its holdings in Concho Resources Inc. (NYSE:CXO) by 8.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,832 shares of the oil and natural gas company’s stock after purchasing an additional 1,857 shares during the period. This website provides details about the acquisition. 8 billion. Add to Watchlist. Shares of … Concho Resources Inc. Common Stock. Click here now. Stock quotes by finanzen.net, Plus500. ConocoPhillips will host a conference call today at 8 a.m. Eastern time to discuss this announcement. ConocoPhillips and Concho expect to capture $500 million of annual cost and capital savings by 2022. Two best-in-class asset portfolios that create a combined resource base of approximately 23 billion barrels of oil equivalent with a less than $40 per barrel WTI cost of supply and an average cost of supply below $30 per barrel WTI. We look forward to bringing together our complementary operations, teams and cultures to realize the upside potential of this exciting combination.”. Together, ConocoPhillips and Concho will have unmatched scale and quality across the important value drivers in our business: an enviable low cost of supply asset base, a strong balance sheet, a disciplined capital allocation approach, ESG excellence and great people. ConocoPhillips and Concho Resources Combination Built Upon Shared Vision to Deliver Superior Returns Through Price Cycles, All-Stock Transaction Valued at $9.7 Billion Honors Proven Financial Framework and is Expected to be Accretive on Consensus Key Financial Metrics. The definitive joint proxy statement/prospectus (if and when available) will be mailed to stockholders of ConocoPhillips and Concho Resources. 432-685-2533, Michael Healey Words and phrases such as “anticipate,” “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. Average twelve-month price target is $ 69.99, predicting that the statements are not guarantees of future performance and certain... 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