Concho Resources Inc (CXO) : Knott David M reduced its stake in Concho Resources Inc by 9.09% during the most recent quarter end. The investment management company now holds a total of 100,000 shares of Concho Resources Inc which is valued at $11.6 Million after selling 10,000 shares in Concho Resources Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Concho Resources Inc makes up approximately 2.77% of Knott David M’s portfolio.
Other Hedge Funds, Including , Nippon Life Global Investors Americas reduced its stake in CXO by selling 43,610 shares or 76.4% in the most recent quarter. The Hedge Fund company now holds 13,470 shares of CXO which is valued at $1.6 Million. Concho Resources Inc makes up approx 0.15% of Nippon Life Global Investors Americas’s portfolio.Teacher Retirement System Of Texas boosted its stake in CXO in the latest quarter, The investment management firm added 3,912 additional shares and now holds a total of 39,073 shares of Concho Resources Inc which is valued at $4.5 Million. Concho Resources Inc makes up approx 0.03% of Teacher Retirement System Of Texas’s portfolio.Essex Investment Management Co boosted its stake in CXO in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 19,831 shares of Concho Resources Inc which is valued at $2.3 Million. Concho Resources Inc makes up approx 0.40% of Essex Investment Management Co’s portfolio.Proshare Advisors boosted its stake in CXO in the latest quarter, The investment management firm added 14,579 additional shares and now holds a total of 25,824 shares of Concho Resources Inc which is valued at $3 Million. Concho Resources Inc makes up approx 0.04% of Proshare Advisors’s portfolio.
Concho Resources Inc opened for trading at $117.45 and hit $118.01 on the upside on Friday, eventually ending the session at $117.77, with a gain of 0.75% or 0.88 points. The heightened volatility saw the trading volume jump to 12,07,868 shares. Company has a market cap of $15,493 M.
On the company’s financial health, Concho Resources Inc reported $-0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.00. The company had revenue of $283.60 million for the quarter, compared to analysts expectations of $273.92 million. The company’s revenue was down -31.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.06 EPS.
Many Wall Street Analysts have commented on Concho Resources Inc. Canaccord Genuity Initiated Concho Resources Inc on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $95.Company shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight”, Firm has raised the Price Target to $ 97 from a previous price target of $95 .
Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition development and exploration of oil and natural gas properties. The Company’s operating areas are located in the Permian Basin region 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 and vertical development; 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 Texas Permian in the Midland Basin where it targets the Wolfcamp and Spraberry formations with horizontal and vertical development.