Insider: Is Concho Resources Inc (NYSE:CXO) Stock a Sell after Brenda Schroer’s Insider Deal?

November 25, 2016 - By Louis Casey

Insider: Is Concho Resources Inc (NYSE:CXO) Stock a Sell after Brenda Schroer's Insider Deal?

Brenda Schroer Insider Sell

VP – CAO and Treasurer, Brenda Schroer is the Concho Resources Inc’s insider that sold shares of Concho Resources Inc, 1,800 to be exact. Brenda Schroer’s shares were based on an average share price of $138.0, with Brenda Schroer’s transaction having a total value of $248,478 US Dollars. Dated November 25, 2016, this sudden deal by Brenda Schroer was revealed inside a public form that was filed with the U.S. Security & Exchange Commission. It is obtainable for free here. Brenda Schroer now holds 8,060 shares of Concho Resources Inc.

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. $173 is the highest target while $100 is the lowest. The $134.96 average target is 0.87% above today’s ($133.8) stock price. Concho Resources Inc. has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Wednesday, July 22, the company rating was upgraded by Credit Suisse. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, August 24 report. Seaport Global upgraded Concho Resources Inc (NYSE:CXO) on Tuesday, June 7 to “Accumulate” rating. The firm has “Outperform” rating given on Thursday, October 8 by RBC Capital Markets. The stock of Concho Resources Inc (NYSE:CXO) earned “Overweight” rating by Morgan Stanley on Monday, June 13. On Wednesday, December 9 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of Concho Resources Inc (NYSE:CXO) earned “Market Perform” rating by Cowen & Co on Wednesday, December 9. The stock of Concho Resources Inc (NYSE:CXO) has “Neutral” rating given on Friday, September 11 by Goldman Sachs. The firm earned “Overweight” rating on Monday, August 22 by Piper Jaffray. The firm has “Buy” rating given on Thursday, August 4 by SunTrust.

Insitutional Activity: The institutional sentiment increased to 1.46 in Q2 2016. Its up 0.41, from 1.05 in 2016Q1. The ratio is positive, 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.

Legal And General Grp Incorporated Public Limited Co, a United Kingdom-based fund reported 557,033 shares. Essex Mngmt Limited Liability Com holds 30,756 shares or 0.61% of its portfolio. State Of Wisconsin Board accumulated 191,497 shares or 0.09% of the stock. Gateway Invest Advisers Limited Liability Corp has invested 0.22% of its portfolio in Concho Resources Inc (NYSE:CXO). Cue Fincl Group Inc, a Arizona-based fund reported 2,465 shares. The Massachusetts-based Redwood Ltd Liability Corp has invested 1.69% in Concho Resources Inc (NYSE:CXO). The Maryland-based Proshare Advisors Ltd has invested 0.03% in Concho Resources Inc (NYSE:CXO). State Street Corp accumulated 6.20M shares or 0.08% of the stock. Stifel Fincl Corporation last reported 2,785 shares in the company. Lmr Llp last reported 7,021 shares in the company. Moreover, Advisory Services Network Ltd Llc has 0% invested in Concho Resources Inc (NYSE:CXO) for 60 shares. Signaturefd Ltd Llc has 23 shares for 0% of their US portfolio. Millennium Ltd Liability Corp has 47,233 shares for 0.01% of their US portfolio. Apg Asset Mngmt Nv has 40,123 shares for 0.01% of their US portfolio. Kanaly reported 332 shares or 0.01% of all its holdings.

Insider Transactions: Since June 6, 2016, the stock had 0 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.

About 689,689 shares traded hands. Concho Resources Inc (NYSE:CXO) has risen 21.12% since April 22, 2016 and is uptrending. It has outperformed by 15.71% the S&P500.

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 $19.59 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.

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.”

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.

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.

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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