Concho Resources Inc (CXO) Short Interest Update

Concho Resources Inc (NYSE:CXO) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 6,317,614 shares, a drop of 58.9% from the July 13th total of 15,359,708 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily volume of 3,391,419 shares, the days-to-cover ratio is currently 1.9 days.

In other news, Director Mark B. Puckett bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average price of $134.39 per share, for a total transaction of $268,780.00. Following the transaction, the director now directly owns 28,535 shares of the company’s stock, valued at approximately $3,834,818.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CXO. Oppenheimer Asset Management Inc. boosted its stake in shares of Concho Resources by 19.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,348 shares of the oil and natural gas company’s stock valued at $353,000 after purchasing an additional 386 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Concho Resources by 19.4% in the 2nd quarter. Baird Financial Group Inc. now owns 2,398 shares of the oil and natural gas company’s stock valued at $332,000 after purchasing an additional 390 shares during the last quarter. Kingfisher Capital LLC boosted its stake in shares of Concho Resources by 6.0% in the 1st quarter. Kingfisher Capital LLC now owns 6,940 shares of the oil and natural gas company’s stock valued at $1,043,000 after purchasing an additional 392 shares during the last quarter. Twin Capital Management Inc. boosted its stake in shares of Concho Resources by 0.9% in the 2nd quarter. Twin Capital Management Inc. now owns 47,460 shares of the oil and natural gas company’s stock valued at $6,566,000 after purchasing an additional 410 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Concho Resources by 9.3% in the 1st quarter. IFM Investors Pty Ltd now owns 4,845 shares of the oil and natural gas company’s stock valued at $728,000 after purchasing an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 97.50% of the company’s stock.



CXO opened at $137.16 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $27.58 billion, a price-to-earnings ratio of 65.65 and a beta of 0.95. Concho Resources has a 1-year low of $106.73 and a 1-year high of $163.11.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, August 1st. The oil and natural gas company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.32. The firm had revenue of $945.00 million during the quarter, compared to analysts’ expectations of $906.82 million. Concho Resources had a net margin of 34.13% and a return on equity of 5.37%. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. equities research analysts forecast that Concho Resources will post 4.38 EPS for the current year.

A number of equities research analysts recently issued reports on CXO shares. ValuEngine upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Stephens set a $217.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Stifel Nicolaus set a $196.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. KeyCorp increased their target price on shares of Concho Resources from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, April 23rd. Finally, JPMorgan Chase & Co. set a $180.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $175.67.

Concho Resources Company Profile

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

Further Reading: Stock Symbols and CUSIP Explained

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