SunTrust analyst Neal Dingmann lowered his price target on Concho Resources to $100 after its Q2 earnings miss and a reduction in 2019 production outlook as well as the announcement that its 23-well Dominator project was too tightly spaced. The analyst notes that the stock price decline of over 20% afterhours reflected investors' waning confidence not only in the company, but the overall capital efficiency and operations of its group. Dingmann still keeps his Buy rating on Concho Resources however, saying the stock may become a takeout candidate if larger operators find its strong Permian position attractive.