The stock of Concho Resources Inc (NYSE:CXO) is a huge mover today! About 887,798 shares traded hands. Concho Resources Inc (NYSE:CXO) has risen 19.70% since April 13, 2016 and is uptrending. It has outperformed by 15.77% the S&P500.
The move comes after 5 months positive chart setup for the $19.45 billion company. It was reported on Nov, 15 by Barchart.com. We have $160.56 PT which if reached, will make NYSE:CXO worth $4.28B more.
Concho Resources Inc (NYSE:CXO) Ratings Coverage
Out of 19 analysts covering Concho Resources Inc. (NYSE:CXO), 13 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 68% are positive. Concho Resources Inc. has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Concho Resources Inc (NYSE:CXO) earned “Buy” rating by Citigroup on Thursday, August 11. The stock has “Hold” rating given by Canaccord Genuity on Tuesday, April 5. As per Monday, August 31, the company rating was downgraded by Vetr. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, October 14 report. The stock of Concho Resources Inc (NYSE:CXO) has “Market Perform” rating given on Wednesday, December 9 by Cowen & Co. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, August 24 report. Credit Suisse upgraded the stock to “Outperform” rating in Wednesday, July 22 report. The company was maintained on Monday, September 14 by Citigroup. As per Tuesday, October 6, the company rating was downgraded by Suntrust Robinson. The stock of Concho Resources Inc (NYSE:CXO) earned “Overweight” rating by JP Morgan on Wednesday, December 9.
According to Zacks Investment Research, “Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. The Company’s conventional operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the Company is involved in a number of unconventional emerging resource plays.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.61, from 1.66 in 2016Q1. The ratio dropped, as 44 funds sold all Concho Resources Inc shares owned while 143 reduced positions. 53 funds bought stakes while 144 increased positions. They now own 126.97 million shares or 3.12% less from 131.06 million shares in 2016Q1.
Tortoise Cap Limited Liability Com holds 0.11% or 131,348 shares in its portfolio. Cypress Asset Mngmt Incorporated Tx last reported 0.05% of its portfolio in the stock. Mizuho Bk Ltd holds 0.07% or 198,028 shares in its portfolio. Amg Trust Natl Bank holds 0.1% or 9,446 shares in its portfolio. Utah Retirement Systems accumulated 0.08% or 23,819 shares. Copper Rock Cap Ltd Liability Corporation has 0.03% invested in the company for 2,876 shares. Weiss Multi holds 0.39% or 42,185 shares in its portfolio. Carmignac Gestion accumulated 1.75M shares or 1.79% of the stock. Cardinal Cap Management Limited Liability Corp Ct accumulated 184,255 shares or 1.09% of the stock. Guardian Life Company Of America owns 477 shares or 0% of their US portfolio. First Advsr Lp holds 0.14% or 384,319 shares in its portfolio. Gsa Cap Partners Ltd Liability Partnership has 0.03% invested in the company for 4,010 shares. Glenmede Company Na holds 292 shares or 0% of its portfolio. Carlson Capital L P, a Texas-based fund reported 20,000 shares. Nikko Asset Mgmt Americas Inc reported 137,900 shares or 1.58% of all its holdings.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 1 sale for $1.95 million net activity. BEAL STEVEN L also sold $1.95M worth of Concho Resources Inc (NYSE:CXO) shares.
Another recent and important Concho Resources Inc (NYSE:CXO) news was published by Businesswire.com which published an article titled: “Concho Resources Inc. Completes Acquisition of Midland Basin Assets” on October 04, 2016.
CXO Company Profile
Concho Resources Inc., incorporated on February 22, 2006, is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s activities are focused in the Permian Basin 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 drilling; 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 Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling.
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