Economy

Concho Resources reports 3Q loss

Concho Resources Inc. had 86 analyst reports since July 21, 2015 according to SRatingsIntel.

Several other large investors also recently modified their holdings of the stock. Stifel Nicolaus set a $185.00 target price on shares of Concho Resources and gave the stock a "buy" rating in a research note on Thursday, October 5th. BidaskClub raised shares of Concho Resources from a "hold" rating to a "buy" rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a "hold" rating and set a $109.00 price objective (down from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock.

Among 19 analysts covering Signature Bank (NASDAQ:SBNY), 15 have Buy rating, 1 Sell and 3 Hold. The company presently has a consensus rating of "Buy" and an average target price of $151.11. Concho Resources Inc. (CXO) has had a 20-day average volume of 944,565 shares, with an average of 20% of short term indicators pointed at Buy.

Additionally, according to the most recent 13F filing from Concho Resources Inc. Cushing Asset Management Lp who had been investing in Concho Res Inc for a number of months, seems to be bullish on the $19.88B market cap company. After a recent look, shares have been seen 4.04% from the 200-day moving average, and 6.77% from the 50-day moving average. (NASDAQ:CXO) to report earnings on Oct, 31 for the fiscal quarter ending Sep 2017. The firm earned $430.55 million during the quarter, compared to the consensus estimate of $69.10 million. The stock of Concho Resources Inc (NYSE:CXO) has "Buy" rating given on Wednesday, August 2 by BMO Capital Markets.

The good news is there's still room for Concho Resources Inc. The P2 Capital Partners Llc holds 4.48M shares with $64.73M value, up from 4.31M last quarter.

ILLEGAL ACTIVITY NOTICE: "KeyCorp Analysts Give Concho Resources Inc. (NYSE:CXO) a $150.00 Price Target" was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally copied and reposted in violation of United States & global trademark & copyright law. Gam Hldg Ag invested 0.01% in Concho Resources Inc (NYSE:CXO).

In related news, VP E Joseph Wright sold 16,696 shares of the firm's stock in a transaction on Friday, August 11th. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share. Following the transaction, the vice president now directly owns 132,388 shares in the company, valued at $15,203,437.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The best measure of a company is its profitability, for without it, it can not grow, and if it doesn't grow, then its stock will trend downward. Insiders own 0.99% of the company's stock. Israel Discount Bank of NY lifted its stake in Concho Resources by 32.0% during the second quarter. The company's revenue was up 45.8% on a year-over-year basis. It also reduced its holding in Superior Energy Svcs Inc (NYSE:SPN) by 488,446 shares in the quarter, leaving it with 15,000 shares, and cut its stake in Dover Corp (NYSE:DOV). Exane Derivatives now owns 1,038 shares of the oil and natural gas company's stock worth $126,000 after buying an additional 739 shares during the period. Teachers Advisors LLC boosted its position in Concho Resources by 2.0% during the first quarter. Pine River Capital Management Lp sold 46,280 shares as the company's stock declined 5.25% while stock markets rallied. Concho Resources Inc. (CXO) has 0.15 billion shares outstanding now, 93.29% of which belong to institutional investors. The overall volume in the last trading session was 1.33 million shares. University of Texas Investment Managment Co. acquired a new stake in shares of Concho Resources during the second quarter valued at approximately $110,000. The Company's four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.



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