The stock of Concho Resources Inc (NYSE:CXO) is a huge mover today! About 441,910 shares traded hands. Concho Resources Inc (NYSE:CXO) has risen 35.50% since March 11, 2016 and is uptrending. It has outperformed by 30.04% the S&P500.
The move comes after 5 months negative chart setup for the $19.35 billion company. It was reported on Oct, 14 by Barchart.com. We have $128.22 PT which if reached, will make NYSE:CXO worth $1.35B less.
Analysts await Concho Resources Inc (NYSE:CXO) to report earnings on November, 2. They expect $0.16 earnings per share, down 51.52% or $0.17 from last year’s $0.33 per share. CXO’s profit will be $22.46 million for 215.42 P/E if the $0.16 EPS becomes a reality. After $0.26 actual earnings per share reported by Concho Resources Inc for the previous quarter, Wall Street now forecasts -38.46% negative EPS growth.
Concho Resources Inc (NYSE:CXO) Ratings Coverage
Out of 19 analysts covering Concho Resources Inc. (NYSE:CXO), 13 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 68% are positive. Concho Resources Inc. has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by Cowen & Co on Wednesday, December 9 with “Market Perform”. Citigroup maintained it with “Buy” rating and $150 target price in Thursday, August 11 report. The stock has “Buy” rating given by SunTrust on Thursday, August 4. On Wednesday, October 14 the stock rating was maintained by Deutsche Bank with “Buy”. Deutsche Bank maintained Concho Resources Inc (NYSE:CXO) on Wednesday, December 9 with “Buy” rating. Credit Suisse maintained Concho Resources Inc (NYSE:CXO) rating on Wednesday, August 24. Credit Suisse has “Outperform” rating and $154 price target. SunTrust maintained the stock with “Buy” rating in Thursday, September 3 report. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, August 10 report. The firm has “Strong Buy” rating given on Tuesday, December 1 by Raymond James. Jefferies downgraded Concho Resources Inc (NYSE:CXO) on Tuesday, January 12 to “Hold” rating.
According to Zacks Investment Research, “Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. The Company’s conventional operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the Company is involved in a number of unconventional emerging resource plays.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.61, from 1.66 in 2016Q1. The ratio turned negative, as 44 funds sold all Concho Resources Inc shares owned while 143 reduced positions. 53 funds bought stakes while 144 increased positions. They now own 126.97 million shares or 3.12% less from 131.06 million shares in 2016Q1.
Nuveen Asset Ltd Com has invested 0.02% of its portfolio in Concho Resources Inc (NYSE:CXO). Nippon Life Global Invsts Americas holds 0.15% of its portfolio in Concho Resources Inc (NYSE:CXO) for 13,470 shares. Tortoise Cap Ltd Liability has 0.11% invested in the company for 131,348 shares. Putnam Lc last reported 0.06% of its portfolio in the stock. Passport Cap Ltd, a California-based fund reported 438,008 shares. Amalgamated Commercial Bank has invested 0.04% of its portfolio in Concho Resources Inc (NYSE:CXO). Channing Cap Lc, a Illinois-based fund reported 109,040 shares. Guardian Life Of America accumulated 477 shares or 0% of the stock. Bnp Paribas Investment Prns has invested 0.14% of its portfolio in Concho Resources Inc (NYSE:CXO). First Personal Fin Svcs last reported 50 shares in the company. Castleark Limited Liability holds 0.27% of its portfolio in Concho Resources Inc (NYSE:CXO) for 70,400 shares. Gradient Lc accumulated 3,739 shares or 0.05% of the stock. Cleararc Capital accumulated 3,154 shares or 0.07% of the stock. Kennedy Capital Management Inc holds 0.2% of its portfolio in Concho Resources Inc (NYSE:CXO) for 81,430 shares. Marshall Wace Ltd Liability Partnership accumulated 0.01% or 11,751 shares.
Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 1 insider sale for $1.95 million net activity. Another trade for 16,250 shares valued at $1.95 million was made by BEAL STEVEN L on Monday, June 6.
Another recent and important Concho Resources Inc (NYSE:CXO) news was published by Seekingalpha.com which published an article titled: “Concho Resources: Worth More Than Resolute Energy?” on October 03, 2016.
CXO Company Profile
Concho Resources Inc., incorporated on February 22, 2006, is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s activities are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. The Company’s three core operating areas include New Mexico Shelf, where the Company primarily targets the Yeso formation with horizontal drilling; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation (including the Avalon shale and the Bone Spring sands) and the Wolfcamp shale formation, and Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling.
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