concho resources stock

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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. Add to Watchlist. Together, the two companies have a combined value of about $60 billion. Our strategy has allowed us to consistently increase our production and reserves at low costs and to … Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. 76.4% of retail CFD accounts lose money, * Average Estimates in Million (e.g. account day-to-day movements in market value compared to a company’s liability structure. Concho Resources Inc. Common Stock. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. However, these statements are not guarantees of future performance and involve certain risks, uncertainties, and other factors beyond our control. 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. The definitive joint proxy statement/prospectus (if and when available) will be mailed to stockholders of ConocoPhillips and Concho Resources. High-quality balance sheet that offers superior sustainability, resilience and flexibility across price cycles. GBPUSD UK Sterlin.. Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously. Additional Information about the Merger and Where to Find It – In connection with the proposed transaction, ConocoPhillips intends to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of ConocoPhillips and Concho Resources and that also constitutes a prospectus of ConocoPhillips. "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. 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. Data is currently not available. 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. The transaction is subject to the approval of both ConocoPhillips and Concho stockholders, regulatory clearance and other customary closing conditions. 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. (CXO) Nasdaq Listed. 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. Dividend). 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. GKP Gulf Keyst.. LSE. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. Why Concho Resources Popped 15% Today … 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. ConocoPhillips buys Concho Resources for $9.7 billion in stock ConocoPhillips on Monday agreed to buy U.S. shale oil producer Concho Resources … Jan 19, 2021. 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. Concho partially funds the acquisition with a $520 million divestiture of non-core Permian Basin assets. 8 billion. 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. 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. Furthermore, Concho Resources Inc. (CXO)’s beta value is 2.07, and its average true range (ATR) is 2.33. However, the absence of these words does not mean that the statements are not forward-looking. 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. 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. 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/. Shares of … Disclaimer | QPP Quindell FTSE. 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 Resources Inc. (NYSE:CXO) went down by -3.07% from its latest closing price compared to the recent 1-year high of $93.34. 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. Houston-based ConocoPhillips (NYSE: COP) closed its massive $9.7 billion acquisition of Concho Resources on Jan. 15. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to ConocoPhillips’ and Concho’s respective periodic reports and other filings with the SEC, including the risk factors contained in ConocoPhillips’ and Concho’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. 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. The stock of Concho Resources closed Friday at $48.60 and was falling 1.05% to $48.08 in trading Monday. Concho Resources, Inc. engages in the acquisition, development and exploration of oil and natural gas properties. Vice President of Investor Relations & Public Affairs “Concho is a tremendous fit with ConocoPhillips. 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. 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. Please review www.conocophillips.com/concho for more information. CXO: Get the latest Concho Resources stock price and detailed information including CXO news, historical charts and realtime prices. 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. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. IOF Iofina FX. risk, allowing investors to make better decisions and streamline their work ow. 432-685-2533, Michael Healey This website provides details about the acquisition. 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. View insider buying and selling activity for Concho Resources or or view top insider-buying stocks . 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. 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. Investor Relations A look at the stock… Get the hottest stocks to trade every day before the market opens … Copies of the documents filed with the SEC by ConocoPhillips will be available free of charge on ConocoPhillips’ website at http://www.conocophillips.com or by contacting ConocoPhillips’ Investor Relations Department by email at investor.relations@conocophillips.com or by phone at 281-293-5000. Megan P. Hays balance sheet and inputs from the stock market. 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. Earlier this week, ConocoPhillips completed its acquisition of Concho Resources Inc. Holders of Concho Resources stock will receive 1.46 shares of ConocoPhillips stock. DNB Asset Management AS’s […] ConocoPhillips has completed its acquisition of Concho Resources. 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. 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. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as financial advisors to Concho. Revenue) or per share (e.g. This communication relates to a proposed business combination transaction between ConocoPhillips and Concho Resources. John C. Roper (media) john.c.roper@conocophillips.com The company’s stock has been forecasted to trade at an average price of $66.42 over the course of the next 52 weeks, with a low of $50 and a high of $84. Updated daily, it takes into 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.”. “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. Commerce Policy | Elevated commitment to environmental, social and governance excellence with a newly adopted Paris-Aligned Climate Risk strategy, available at. 281-293-5000 Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. 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. ConocoPhillips and Concho expect to capture $500 million of annual cost and capital savings by 2022. UKX FTSE 100 LSE. Source: FactSet. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. ConocoPhillips Their average twelve-month price target is $69.99, predicting that the stock has a possible upside of 6.69%. Concho Resources (NYSE:CXO) Intraday Stock Chart Tuesday 19 January 2021 Your Recent History LSE. A financial framework that delivers greater than 30 percent of cash from operations via compelling dividends and additional distributions. All rights reserved. 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