Concho Resources Inc: A Cheap Permian Producer
As the Permian Basin gains attention, investors need to become more acquainted with Concho Resources (NYSE: CXO ) . The company is a leading pure-play operator in the basin, producing over 20% production growth and generating solid profits.
While the company's stock has surged recently, it is cheap compared to fellow Permian operator Pioneer Natural Resources (NYSE: PXD ) . It also offers an important lesson to investors focused on the attention-grabbing companies such as SandRidge Energy (NYSE: SD ) . While SandRidge Energy was busy making deals for assets, Concho Resources quietly built up a solid acreage position and is now reaping the rewards of strong production growth.
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