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CXO

Concho Resources

$73.62

1.01 (1.39%)

12:15
12/02/19
12/02
12:15
12/02/19
12:15

Concho Resources put volume heavy and directionally bearish

Bearish flow noted in Concho Resources with 1,149 puts trading, or 1.6x expected. Most active are 12/6 weekly 70 puts and Jan-20 80 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 3.58, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 18th.

CXO Concho Resources
$73.62

1.01 (1.39%)

10/16/19
RHCO
10/16/19
DOWNGRADE
Target $70
RHCO
Hold
Concho Resources downgraded to Hold from Buy at SunTrust
SunTrust analyst Neal Dingmann downgraded Concho Resources to Hold from Buy with a price target of $70, down from $100, as part of his broader research note previewing Q3 results for E&Ps involved in the Permian basin. The analyst notes that the company has recently highlighted its efforts to remedy "inflated well costs" along with its plans to move to wider spaced projects; but he expects these actions to take time to flow through to the company's overall well profile. Dingmann adds that Concho Resources has already reduced its 2019 oil growth expectations, but she anticipates results to fall short of consensus, forecasting its oil output at 201MMBOE/D vs. 204MMBOE/D seen by the Street and capital expenditure of $680M vs. $646M seen by the Street. As part of his research note, the analyst also lowers his price target on Diamondback Energy (FANG) to $125 from $145, forecasting "more modest growth" in Q3 output after a strong Q2 print. Dingmann still keeps his Buy rating on Diamondback Energy and believes the company will boost its dividend to a "more S&P-500 competitive" level.
11/01/19
11/01/19
NO CHANGE

Rice University-Jones Graduate School of Business to hold a summit
Rice Energy Finance Summit will be held in Houston on November 1.
11/13/19
SCOT
11/13/19
INITIATION
Target $92
SCOT
Outperform
Concho Resources initiated with an Outperform at Scotiabank
Scotiabank analyst Paul Cheng initiated coverage of Concho Resources with an Outperform rating and $92 price target.
11/13/19
11/13/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) and Sonos (SONO) were initiated with an Outperform at RBC Capital, while Jabil (JBL) was initiated with a Sector Perform. 2. JetBlue (JBLU) and United Airlines (UAL) were initiated with a Buy at UBS, while Delta Air Lines (DAL) and Southwest (LUV) were initiated with a Neutral, and American Airlines (AAL) was initiated with a Sell. 3. ManpowerGroup (MAN) initiated with a Buy at CL King. 4. Concho Resources (CXO) initiated with an Outperform at Scotiabank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MGTA

Magenta Therapeutics

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PFE

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UMRX

Unum Therapeutics

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0.0177 (2.61%)

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MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

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AUTL

Autolus Therapeutics

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BMY

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SGEN

Seattle Genetics

$117.52

0.37 (0.32%)

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GILD

Gilead

$67.09

1.16 (1.76%)

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CRTX

Cortexyme

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-6.15 (-18.01%)

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MNK

Mallinckrodt

$3.40

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  • 07

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STOK

Stoke Therapeutics

$28.91

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APTO

Aptose Biosciences

$2.55

-0.04 (-1.54%)

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EPZM

Epizyme

$18.22

2.9 (18.93%)

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PRNB

Principia Biopharma

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FB

Facebook

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SQ

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YGE

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AKS

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AA

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FATE

Fate Therapeutics

$13.64

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CRVS

Corvus Pharmaceuticals

$4.26

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KPTI

Karyopharm

$16.30

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  • 07

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ABBV

AbbVie

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  • 07

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SRRA

Sierra Oncology

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  • 07

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SGMO

Sangamo

$11.65

0.05 (0.43%)

, PFE

Pfizer

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Pfizer

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VSTM

Verastem

$1.31

0.055 (4.38%)

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  • 07

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RHHBY

Roche

$0.00

(0.00%)

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    Dec

XENE

Xenon Pharmaceuticals

$13.92

0.03 (0.22%)

, BMRN

BioMarin

$79.90

-0.18 (-0.22%)

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Xenon to provide updates on partnered epilepsy programs »

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XENE

Xenon Pharmaceuticals

$13.92

0.03 (0.22%)

BMRN

BioMarin

$79.90

-0.18 (-0.22%)

03/08/13
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  • 07

    Dec

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