Cenovus Energy Inc. (CVE) Reaches $10.12 After 3.00% Up Move; Concho Resources Has 1.41 Sentiment

April 18, 2018 - By Adrian Erickson

Cenovus Energy Inc. (NYSE:CVE) Logo

Concho Resources Inc (CXO) investors sentiment increased to 1.41 in 2017 Q4. It’s up 0.42, from 0.99 in 2017Q3. The ratio is more positive, as 216 investment professionals opened new and increased holdings, while 153 reduced and sold stakes in Concho Resources Inc. The investment professionals in our database now possess: 140.14 million shares, up from 137.75 million shares in 2017Q3. Also, the number of investment professionals holding Concho Resources Inc in top ten holdings was flat from 4 to 4 for the same number . Sold All: 23 Reduced: 130 Increased: 142 New Position: 74.

The stock of Cenovus Energy Inc. (NYSE:CVE) is a huge mover today! The stock increased 3.58% or $0.35 during the last trading session, reaching $10.12. About 1.30M shares traded. Cenovus Energy Inc. (NYSE:CVE) has declined 35.61% since April 18, 2017 and is downtrending. It has underperformed by 47.16% the S&P500.The move comes after 7 months positive chart setup for the $11.95B company. It was reported on Apr, 18 by Barchart.com. We have $10.42 PT which if reached, will make NYSE:CVE worth $358.59M more.

Ratings analysis reveals 100% of Concho Resources’s analysts are positive. Out of 4 Wall Street analysts rating Concho Resources, 4 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $154.0 while the high is $175.0. The stock’s average target of $163 is 4.51% above today’s ($155.96) share price. CXO was included in 4 notes of analysts from August 24, 2016. The rating was maintained by Credit Suisse with “Outperform” on Wednesday, August 24. The firm has “Buy” rating by Seaport Global Securities given on Friday, December 9. The company was maintained on Monday, September 12 by Stifel Nicolaus. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, February 22.

Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas properties in the United States. The company has market cap of $22.98 billion. The companyÂ’s principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. It has a 24.33 P/E ratio. As of December 31, 2016, its total estimated proved reserves were 720.0 million barrels of oil equivalent.

Since January 1, 0001, it had 0 insider buys, and 1 sale for $603,480 activity.

Analysts await Concho Resources Inc. (NYSE:CXO) to report earnings on May, 1 after the close. They expect $0.82 earnings per share, up 67.35% or $0.33 from last year’s $0.49 per share. CXO’s profit will be $120.80 million for 47.55 P/E if the $0.82 EPS becomes a reality. After $0.66 actual earnings per share reported by Concho Resources Inc. for the previous quarter, Wall Street now forecasts 24.24% EPS growth.

The stock increased 1.62% or $2.49 during the last trading session, reaching $155.96. About 535,194 shares traded. Concho Resources Inc. (CXO) has risen 25.40% since April 18, 2017 and is uptrending. It has outperformed by 13.85% the S&P500.

Energy Opportunities Capital Management Llc holds 3.52% of its portfolio in Concho Resources Inc. for 33,850 shares. Cambrian Capital Limited Partnership owns 18,248 shares or 3.35% of their US portfolio. Moreover, Carmignac Gestion has 2.88% invested in the company for 2.89 million shares. The Texas-based Texas Capital Bancshares Inc Tx has invested 2.44% in the stock. Sailingstone Capital Partners Llc, a California-based fund reported 514,891 shares.

Among 16 analysts covering Cenovus Energy Inc (NYSE:CVE), 6 have Buy rating, 2 Sell and 8 Hold. Therefore 38% are positive. Cenovus Energy Inc had 28 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Thursday, April 28 by RBC Capital Markets. On Friday, May 26 the stock rating was reinitiated by Credit Suisse with “Outperform”. The company was upgraded on Thursday, March 30 by Macquarie Research. The stock of Cenovus Energy Inc. (NYSE:CVE) earned “Conviction Buy” rating by Goldman Sachs on Friday, March 11. The stock of Cenovus Energy Inc. (NYSE:CVE) earned “Neutral” rating by Goldman Sachs on Tuesday, December 1. The firm has “Overweight” rating given on Friday, October 13 by Morgan Stanley. The rating was downgraded by Macquarie Research to “Sell” on Wednesday, June 21. JP Morgan maintained the shares of CVE in report on Tuesday, December 15 with “Neutral” rating. Barclays Capital downgraded the stock to “Underweight” rating in Monday, October 12 report. The company was upgraded on Wednesday, June 21 by Canaccord Genuity.

Concho Resources Inc. (NYSE:CXO) Institutional Positions Chart

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