Concho Resources Inc (CXO) : Telemark Asset Management scooped up 105,000 additional shares in Concho Resources Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 180,000 shares of Concho Resources Inc which is valued at $24,071,400.Concho Resources Inc makes up approximately 5.13% of Telemark Asset Management’s portfolio.
Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in CXO by selling 208,567 shares or 47.39% in the most recent quarter. The Hedge Fund company now holds 231,565 shares of CXO which is valued at $30,967,187. Concho Resources Inc makes up approx 0.04% of Allianz Asset Management Ag’s portfolio.Blackrock Japan Ltd reduced its stake in CXO by selling 1,954 shares or 1.11% in the most recent quarter. The Hedge Fund company now holds 173,368 shares of CXO which is valued at $23,184,503. Concho Resources Inc makes up approx 0.08% of Blackrock Japan Ltd’s portfolio.Td Asset Management Inc reduced its stake in CXO by selling 11,360 shares or 13.44% in the most recent quarter. The Hedge Fund company now holds 73,134 shares of CXO which is valued at $9,428,435. Concho Resources Inc makes up approx 0.02% of Td Asset Management Inc’s portfolio.Quadrant Capital Group boosted its stake in CXO in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 193 shares of Concho Resources Inc which is valued at $23,971. Concho Resources Inc makes up approx 0.02% of Quadrant Capital Group’s portfolio.
Concho Resources Inc opened for trading at $132.31 and hit $133.55 on the upside on Monday, eventually ending the session at $132.97, with a gain of 0.10% or 0.13 points. The heightened volatility saw the trading volume jump to 11,84,116 shares. Company has a market cap of $17,525 M.
On the company’s financial health, Concho Resources Inc reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.06. The company had revenue of $396.30 million for the quarter, compared to analysts expectations of $434.21 million. The company’s revenue was down -26.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.
Many Wall Street Analysts have commented on Concho Resources Inc. Company shares were Reiterated by Credit Suisse on Aug 24, 2016 to “Outperform”, Firm has raised the Price Target to $ 154 from a previous price target of $145 .Concho Resources Inc was Upgraded by Morgan Stanley to ” Overweight” on Jun 13, 2016. Concho Resources Inc was Upgraded by Seaport Global Securities to ” Accumulate” on Jun 7, 2016.
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.