Concho Resources Inc’s Stock Is Sell After Today’s Bearish Options Activity

 Concho Resources Inc's Stock Is Sell After Today's Bearish Options Activity

In today’s session Concho Resources Inc (CXO) recorded an unusually high (114) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious CXO decrease. With 114 contracts traded and 2414 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: CXO161216P00120000 closed last at: $1.3 or 44.4% up. About 389,206 shares traded hands. Concho Resources Inc (NYSE:CXO) has risen 8.86% since April 26, 2016 and is uptrending. It has outperformed by 3.60% the S&P500.

Analysts await Concho Resources Inc (NYSE:CXO) to report earnings on February, 22. They expect $-0.06 earnings per share, up 14.29% or $0.01 from last year’s $-0.07 per share. After $0.32 actual earnings per share reported by Concho Resources Inc for the previous quarter, Wall Street now forecasts -118.75% negative EPS growth.

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) has “Hold” rating given on Tuesday, April 5 by Canaccord Genuity. SunTrust downgraded Concho Resources Inc (NYSE:CXO) on Tuesday, October 6 to “Neutral” rating. The company was maintained on Thursday, September 3 by SunTrust. The rating was maintained by Citigroup on Friday, August 26 with “Buy”. The company was upgraded on Tuesday, June 7 by Seaport Global. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, September 11 report. On Thursday, October 8 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Concho Resources Inc (NYSE:CXO) has “Buy” rating given on Monday, September 12 by Stifel Nicolaus. The stock of Concho Resources Inc (NYSE:CXO) earned “Strong-Buy” rating by Vetr on Monday, August 31. Suntrust Robinson downgraded Concho Resources Inc (NYSE:CXO) on Tuesday, October 6 to “Neutral” rating.

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 increased to 1.46 in 2016 Q2. Its up 0.41, from 1.05 in 2016Q1. The ratio improved, 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.
Ejf Ltd Liability Corp holds 7,500 shares or 0.08% of its portfolio. Moreover, Harvard Mgmt Communications has 0.1% invested in Concho Resources Inc (NYSE:CXO) for 4,213 shares. State Of Tennessee Treasury Department, a Tennessee-based fund reported 29,017 shares. Blair William & Comm Il accumulated 0.01% or 8,327 shares. Chevy Chase Tru Holdings last reported 0.07% of its portfolio in the stock. Moreover, Pub Sector Pension Board has 0.03% invested in Concho Resources Inc (NYSE:CXO) for 24,700 shares. Federated Invsts Pa, a Pennsylvania-based fund reported 20,249 shares. Lombard Odier Asset Mngmt (Usa) holds 1.97% of its portfolio in Concho Resources Inc (NYSE:CXO) for 136,140 shares. Delta Lloyd Nv accumulated 0.03% or 7,573 shares. Raymond James Tru Na accumulated 0.05% or 5,290 shares. California State Teachers Retirement holds 284,113 shares or 0.07% of its portfolio. Sumitomo Mitsui Trust Holdings owns 366,970 shares or 0.08% of their US portfolio. Glg Limited Co accumulated 8,245 shares or 0.07% of the stock. The Quebec – Canada-based Caisse De Depot Et Placement Du Quebec has invested 0.01% in Concho Resources Inc (NYSE:CXO). Rs Investment Company Ltd Limited Liability Company last reported 170,546 shares in the company.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 2 selling transactions for $2.19 million net activity. Schroer Brenda R sold 1,800 shares worth $248,478. $1.95 million worth of Concho Resources Inc (NYSE:CXO) was sold by BEAL STEVEN L on Monday, June 6.

Concho Resources Inc. is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The company has a market cap of $17.65 billion. 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. It currently has negative earnings. The Company’s three core operating areas include New Mexico Shelf, where it targets the Yeso formation with horizontal drilling; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation and the Wolfcamp shale formation, and Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling.

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.

Another recent and important Concho Resources Inc (NYSE:CXO) news was published by Businesswire.com which published an article titled: “Concho Resources Inc. Announces Acquisition of Northern Delaware Basin Assets” on November 21, 2016.

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