Concho Resources Inc (CXO) : L S Advisors Inc added new position in Concho Resources Inc during the most recent quarter end. The investment management firm now holds 30,027 shares of Concho Resources Inc which is valued at $4,015,511 , the company said in a statement filed on Aug 15, 2016 with the SEC.Concho Resources Inc makes up approximately 0.88% of L S Advisors Inc’s portfolio.
Other Hedge Funds, Including , Balyasny Asset Management reduced its stake in CXO by selling 151,597 shares or 98.04% in the most recent quarter. The Hedge Fund company now holds 3,038 shares of CXO which is valued at $406,272.State Of Wisconsin Investment Board reduced its stake in CXO by selling 39,920 shares or 17.25% in the most recent quarter. The Hedge Fund company now holds 191,497 shares of CXO which is valued at $25,608,894. Concho Resources Inc makes up approx 0.10% of State Of Wisconsin Investment Board’s portfolio.King Luther Capital Management Corp boosted its stake in CXO in the latest quarter, The investment management firm added 1,219 additional shares and now holds a total of 9,750 shares of Concho Resources Inc which is valued at $1,303,868. Concho Resources Inc makes up approx 0.01% of King Luther Capital Management Corp’s portfolio.Bridgewater Associates Lp reduced its stake in CXO by selling 1,200 shares or 2.94% in the most recent quarter. The Hedge Fund company now holds 39,653 shares of CXO which is valued at $5,302,796. Concho Resources Inc makes up approx 0.06% of Bridgewater Associates Lp’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in CXO by selling 220 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 28,866 shares of CXO which is valued at $3,585,157. Concho Resources Inc makes up approx 0.03% of Public Employees Retirement Association Of Colorado’s portfolio.
Concho Resources Inc opened for trading at $128.57 and hit $130.54 on the upside on Thursday, eventually ending the session at $130.5, with a gain of 1.01% or 1.3 points. The heightened volatility saw the trading volume jump to 10,63,994 shares. Company has a market cap of $17,200 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.