Concho Resources Inc (CXO) : Windward Capital Management Co Ca reduced its stake in Concho Resources Inc by 5.58% during the most recent quarter end. The investment management company now holds a total of 2,438 shares of Concho Resources Inc which is valued at $333,275 after selling 144 shares in Concho Resources Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Concho Resources Inc makes up approximately 0.06% of Windward Capital Management Co Ca’s portfolio.
Other Hedge Funds, Including , National Pension Service boosted its stake in CXO in the latest quarter, The investment management firm added 8,938 additional shares and now holds a total of 112,024 shares of Concho Resources Inc which is valued at $15,313,681. Concho Resources Inc makes up approx 0.12% of National Pension Service’s portfolio.Legal General Group Plc boosted its stake in CXO in the latest quarter, The investment management firm added 33,317 additional shares and now holds a total of 590,350 shares of Concho Resources Inc which is valued at $82,696,228. Concho Resources Inc makes up approx 0.09% of Legal General Group Plc’s portfolio.Cupps Capital Management reduced its stake in CXO by selling 4,310 shares or 99.63% in the most recent quarter. The Hedge Fund company now holds 16 shares of CXO which is valued at $2,270.Raymond James Trust N.a. reduced its stake in CXO by selling 3,128 shares or 59.13% in the most recent quarter. The Hedge Fund company now holds 2,162 shares of CXO which is valued at $306,701. Concho Resources Inc makes up approx 0.03% of Raymond James Trust N.a.’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 -1.59 points or -1.15% at $136.7 with 10,53,222 shares getting traded on Friday. Post opening the session at $139.66, the shares hit an intraday low of $136.4 and an intraday high of $140.29 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.