Investors are bracing for weaker results from U.S. shale players in coming days ...
) stock plunged 22% in a day after cutting its production outlook, blaming well designs that hurt output.Concho is expected to report earnings of 69 cents per share for the quarter, down from $1.42 a year ago. Top U.S. independent Conoco is expected to post earnings per share of 75 cents, compared with $1.36 a year ago, according to IBES data from Refinitiv.
“We will continue to see growth, but it will be decelerated, and meaningfully decelerated from where it has been for the last three years,” said Bobby Tudor, chairman of Tudor, Pickering, Holt & Co, in an interview this month on the sidelines of a conference. He based the forecast on U.S. oil at about $50 a barrel.
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