Targa Resources Corp. (TRGP) ended last trading session with a change of 1.44 percent. It trades at an average volume of 1.96M shares versus 1.55M shares recorded at the end of last trading session. The share price of $56.52 is at a distance of 132.4 percent from its 52-week low and down -8.59 percent versus its peak. The company has a market cap of $10.92B and currently has 193.25M shares outstanding. The share price is currently -1.97 percent versus its SMA20, -2.36 percent versus its SMA50, and 18.53 percent versus its SMA200. The stock has a weekly performance of -3.09 percent and is 2.39 percent year-to-date as of the recent close.
March 02, 2017 — On February 22, 2017, the board of directors of Targa Resources Corp. (TRGP) (“Targa” or the “Company”) appointed Robert Muraro as Executive Vice President – Commercial of the Company, effective February 22, 2017. Mr. Muraro joined Targa in August 2004 as a Director of Business Development and has since served in roles of increasing responsibility, most recently as Senior Vice President of Commercial and Business Development.
Prior to joining Targa, Mr. Muraro was with ABN Amro in their energy investment banking group. He holds a Bachelor of Arts Degree from Rice University.
Concho Resources Inc. (CXO) recently recorded 1.7 percent change and currently at $128.85 is 34.4 percent away from its 52-week low and down -12.67 percent versus its peak. It has a past 5-day performance of -3.87 percent and trades at an average volume of 1.38M shares. The stock has a 1-month performance of -7.87 percent and is -2.83 percent year-to-date as of the recent close. There were about 149.39M shares outstanding which made its market cap $19.25B. The share price is currently -4.76 percent versus its SMA20, -5.6 percent versus its SMA50, and -1.89 percent versus its SMA200.
On February 22, 2017 Concho Resources Inc. (CXO) reported financial and operating results for the fourth quarter and full year of 2016.
Fourth-Quarter & Full-Year 2016 Highlights
- Delivered quarterly production of 164.3 MBoepd, up 7% quarter-over-quarter.
- Achieved quarterly crude oil production in excess of 100 MBopd for the first time in Company history.
- Reported a quarterly net loss of $125.1 million, or $0.86 per diluted share. Adjusted net income totaled $29.0 million, or $0.20 per diluted share (non-GAAP).
- Generated $397.2 million of EBITDAX (non-GAAP) in the fourth quarter of 2016.
- Achieved record 30-day production rates in the Company’s New Mexico Shelf and Midland Basin assets.
- Generated 1 million gross barrels of oil equivalent in just over 100 days from the Company’s eight well Windham project.
- Full-year 2016 daily production averaged 150.5 MBoepd, up 5% from 2015.
- Exploration and development capital expenditures were $1.1 billion during 2016, down 37% from 2015.
- Year-end 2016 estimated proved reserves totaled 720 MMBoe, up from 623 MMBoe at year-end 2015.
- Reserves replaced at a ratio of 344%, excluding price revisions, and a drill-bit finding and development cost of $9.21 per Boe.
- Total resource potential at year-end estimated at approximately 8 billion Boe, up 60% from 5 billion Boe at year-end 2015.
- Raised full-year 2017 production growth target to 20% to 24%; targeting 25% crude oil production growth over 2016.
- Recently closed the sale of the Alpha Crude Connector system netting $803 million in proceeds to Concho.