Concho Resources Inc (CXO) : Arosa Capital Management Lp reduced its stake in Concho Resources Inc by 72.16% during the most recent quarter end. The investment management company now holds a total of 85,777 shares of Concho Resources Inc which is valued at $11,470,958 after selling 222,277 shares in Concho Resources Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Concho Resources Inc makes up approximately 2.49% of Arosa Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Carlson Capital L P reduced its stake in CXO by selling 20,000 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 20,000 shares of CXO which is valued at $2,674,600. Concho Resources Inc makes up approx 0.03% of Carlson Capital L P’s portfolio. Scout Investments sold out all of its stake in CXO during the most recent quarter. The investment firm sold 26,536 shares of CXO which is valued $3,506,202.Jennison Associates boosted its stake in CXO in the latest quarter, The investment management firm added 39,645 additional shares and now holds a total of 7,632,992 shares of Concho Resources Inc which is valued at $961,833,322. Concho Resources Inc makes up approx 1.01% of Jennison Associates’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in CXO in the latest quarter, The investment management firm added 194 additional shares and now holds a total of 9,839 shares of Concho Resources Inc which is valued at $1,222,004. Concho Resources Inc makes up approx 0.04% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.
Concho Resources Inc opened for trading at $133.03 and hit $134.53 on the upside on Wednesday, eventually ending the session at $133.61, with a gain of 0.81% or 1.08 points. The heightened volatility saw the trading volume jump to 1,683,280 shares. Company has a market cap of $17,610 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.