Concho Resources Inc (CXO) : Exxonmobil Investment Management Inc Tx scooped up 2,552 additional shares in Concho Resources Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 36,293 shares of Concho Resources Inc which is valued at $5,065,414.Concho Resources Inc makes up approximately 0.11% of Exxonmobil Investment Management Inc Tx’s portfolio.
Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in CXO by selling 235 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 8,524 shares of CXO which is valued at $1,189,695. Concho Resources Inc makes up approx 0.16% of First Mercantile Trust Co’s portfolio.Chevy Chase Trust Holdings boosted its stake in CXO in the latest quarter, The investment management firm added 7,257 additional shares and now holds a total of 118,609 shares of Concho Resources Inc which is valued at $16,700,147. Concho Resources Inc makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CXO in the latest quarter, The investment management firm added 10,655 additional shares and now holds a total of 193,801 shares of Concho Resources Inc which is valued at $27,287,181. Concho Resources Inc makes up approx 0.11% of Bnp Paribas Arbitrage Sa’s portfolio.Eqis Capital Management reduced its stake in CXO by selling 159 shares or 8.06% in the most recent quarter. The Hedge Fund company now holds 1,813 shares of CXO which is valued at $255,270. Concho Resources Inc makes up approx 0.02% of Eqis Capital Management’s portfolio. Washington Trust Bank added CXO to its portfolio by purchasing 10 company shares during the most recent quarter which is valued at $1,408.
Concho Resources Inc closed down -1.29 points or -0.92% at $139.57 with 9,85,737 shares getting traded on Friday. Post opening the session at $141.18, the shares hit an intraday low of $139.2 and an intraday high of $141.36 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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 Stifel on Sep 12, 2016 to “Buy”, Firm has raised the Price Target to $ 160 from a previous price target of $141 .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. 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.