Concho Resources Inc. (CXO) Forms $125.74 Double Top; Fairpointe Capital Lifted By $3.95 Million Its Office Depot (ODP) Holding

June 16, 2018 - By Clifton Ray

Concho Resources Inc. (NYSE:CXO) Logo

Fairpointe Capital Llc increased Office Depot Inc (ODP) stake by 6.34% reported in 2018Q1 SEC filing. Fairpointe Capital Llc acquired 1.97 million shares as Office Depot Inc (ODP)’s stock declined 21.48%. The Fairpointe Capital Llc holds 33.10M shares with $71.16 million value, up from 31.12M last quarter. Office Depot Inc now has $1.66 billion valuation. The stock increased 2.05% or $0.06 during the last trading session, reaching $2.98. About 8.77M shares traded or 22.19% up from the average. Office Depot, Inc. (NASDAQ:ODP) has declined 53.57% since June 16, 2017 and is downtrending. It has underperformed by 66.14% the S&P500. Some Historical ODP News: ; 16/05/2018 – Office Depot Expects 5.5% Growth in Yr Over Yr Sales in 2018; 16/05/2018 – Office Depot Backs 2018 View for Adjusted Operating Income of About $360 Million; 09/05/2018 – OFFICE DEPOT 1Q ADJ EPS 8C, EST. 8C; 09/05/2018 – Office Depot 1Q EPS 7c; 09/05/2018 – Office Depot 1Q Adj EPS 8c; 09/05/2018 – OFFICE DEPOT INC – SEES 2018 ADJUSTED OPERATING INCOME ABOUT $360 MLN; 12/03/2018 – OFFICE DEPOT, AWARDS MARKETING AGENCY OF DUTIES TO WPP; 12/03/2018 – CORRECTING AND REPLACING Office Depot, Inc. Awards Marketing Agency of Record Duties to WPP; 04/05/2018 – OFFICE DEPOT INC – SHAREHOLDERS VOTED TO ELECT ALL EIGHT MEMBERS TO SERVE AS DIRECTORS – SEC FILING; 16/05/2018 – OFFICE DEPOT INC – EXPECTED 2019-2020 FINANCIAL TARGETS OF ADJUSTED OPERATING INCOME GROWING AT A 3% TO 5% COMPOUND ANNUAL GROWTH RATE

Concho Resources Inc. (CXO) formed double top with $135.80 target or 8.00% above today’s $125.74 share price. Concho Resources Inc. (CXO) has $18.60B valuation. The stock decreased 1.19% or $1.51 during the last trading session, reaching $125.74. About 3.24 million shares traded or 37.84% up from the average. Concho Resources Inc. (NYSE:CXO) has risen 8.67% since June 16, 2017 and is uptrending. It has underperformed by 3.90% the S&P500. Some Historical CXO News: ; 28/03/2018 – CONCHO RESOURCES – UPON DEAL TERMINATION WITH RSP PERMIAN UNDER SPECIFIED CIRCUMSTANCES, RSP TO PAY CO A FEE OF $250 MLN; 26/03/2018 – Concho Resources says well efficiencies continue to improve; 28/03/2018 – $9.5 Billion Purchase by Concho Is Latest Sign of West Texas Oil Boom; 30/03/2018 – Concho Resources’ (CXO) CEO Tim Leach on Concho Resources Acquisition of RSP Permian (Transcript); 28/03/2018 – CONCHO RESOURCES INC – CONSIDERATION TO EACH RSP SHAREHOLDER TO BE $50.24 PER SHARE; 28/03/2018 – Concho investors shun biggest US oil deal in six years; 28/03/2018 – CONCHO RESOURCES INC – SEES DEAL TO BE IMMEDIATELY ACCRETIVE TO KEY PER-SHARE METRICS; 28/03/2018 – CONCHO RESOURCES INC – TRANSACTION WAS UNANIMOUSLY APPROVED BY BOARD OF DIRECTORS OF EACH COMPANY; 01/05/2018 – CONCHO SEES 2Q PRODUCTION 226 TO 230 MBOE/D; 14/05/2018 – Concho at Citi Global Energy & Utilities Conference Tomorrow

Investors sentiment increased to 0.99 in 2018 Q1. Its up 0.02, from 0.97 in 2017Q4. It is positive, as 34 investors sold ODP shares while 69 reduced holdings. 28 funds opened positions while 74 raised stakes. 483.71 million shares or 0.59% less from 486.57 million shares in 2017Q4 were reported. Mutual Of America Capital Mgmt Ltd Company invested in 0.01% or 432,640 shares. Fuller & Thaler Asset Management Inc stated it has 0% of its portfolio in Office Depot, Inc. (NASDAQ:ODP). Signaturefd has invested 0% of its portfolio in Office Depot, Inc. (NASDAQ:ODP). Prudential Inc invested in 5.38 million shares. Blackrock invested in 54.26M shares. Macquarie Ltd stated it has 174,900 shares. Mason Street Advisors Ltd Co owns 258,591 shares. Jacobs Levy Equity has 0.07% invested in Office Depot, Inc. (NASDAQ:ODP). 10,000 are owned by Brown Advisory. Lee Thomas H Prtnrs Limited Partnership owns 3.12% invested in Office Depot, Inc. (NASDAQ:ODP) for 42.50M shares. 141,900 are held by New Mexico Educational Retirement Board. Suntrust Banks holds 43,132 shares. Invesco Limited reported 0% of its portfolio in Office Depot, Inc. (NASDAQ:ODP). Laurion Capital Lp reported 12,700 shares or 0% of all its holdings. Vanguard Grp Incorporated Incorporated reported 0% stake.

Among 12 analysts covering Office Depot (NASDAQ:ODP), 3 have Buy rating, 3 Sell and 6 Hold. Therefore 25% are positive. Office Depot had 22 analyst reports since September 8, 2015 according to SRatingsIntel. UBS downgraded Office Depot, Inc. (NASDAQ:ODP) rating on Wednesday, May 11. UBS has “Sell” rating and $4 target. The firm has “Hold” rating by Jefferies given on Wednesday, June 14. The company was initiated on Tuesday, December 13 by Loop Capital. The stock has “Buy” rating by Bank of America on Wednesday, May 16. Telsey Advisory Group maintained it with “Outperform” rating and $6.50 target in Wednesday, February 24 report. The firm earned “Hold” rating on Wednesday, October 4 by Jefferies. JP Morgan downgraded the stock to “Underweight” rating in Monday, October 30 report. As per Monday, March 7, the company rating was maintained by Credit Suisse. The stock has “Buy” rating by Bank of America on Tuesday, September 5. The stock has “Sell” rating by UBS on Thursday, August 4.

Fairpointe Capital Llc decreased Werner Enterprises (NASDAQ:WERN) stake by 116,567 shares to 2.90M valued at $105.76M in 2018Q1. It also reduced Teradata Corp (NYSE:TDC) stake by 646,770 shares and now owns 4.01M shares. Lear Corp (NYSE:LEA) was reduced too.

Since January 5, 2018, it had 3 buys, and 1 insider sale for $216,983 activity. 58,800 shares were bought by VASSALLUZZO JOSEPH, worth $149,881. The insider TRAVIS NIGEL bought 10,000 shares worth $23,941. RABINOVITCH MICHAEL sold $4,637 worth of stock or 1,352 shares. Another trade for 20,000 shares valued at $47,798 was bought by Lower Joseph T.

Among 30 analysts covering Concho Resources Inc. (NYSE:CXO), 18 have Buy rating, 0 Sell and 12 Hold. Therefore 60% are positive. Concho Resources Inc. had 126 analyst reports since July 21, 2015 according to SRatingsIntel. As per Wednesday, October 11, the company rating was maintained by Barclays Capital. As per Thursday, October 5, the company rating was maintained by Stifel Nicolaus. The stock of Concho Resources Inc. (NYSE:CXO) earned “Overweight” rating by Barclays Capital on Tuesday, August 8. KeyBanc Capital Markets maintained Concho Resources Inc. (NYSE:CXO) on Monday, September 18 with “Buy” rating. The firm has “Overweight” rating given on Monday, August 22 by Piper Jaffray. As per Wednesday, April 11, the company rating was maintained by BMO Capital Markets. The stock of Concho Resources Inc. (NYSE:CXO) earned “Outperform” rating by Credit Suisse on Wednesday, August 24. The stock has “Hold” rating by Canaccord Genuity on Tuesday, April 5. As per Wednesday, December 20, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Wednesday, October 14 by Deutsche Bank.

Investors sentiment decreased to 0.98 in 2018 Q1. Its down 0.43, from 1.41 in 2017Q4. It dived, as 45 investors sold Concho Resources Inc. shares while 154 reduced holdings. 71 funds opened positions while 124 raised stakes. 143.38 million shares or 2.31% more from 140.14 million shares in 2017Q4 were reported. Sei stated it has 0.07% in Concho Resources Inc. (NYSE:CXO). Miller Howard Invests Ny has invested 0.01% in Concho Resources Inc. (NYSE:CXO). Northern Tru holds 1.75M shares. Prudential Public Ltd Company invested 0.04% in Concho Resources Inc. (NYSE:CXO). Group One Trading L P reported 0% in Concho Resources Inc. (NYSE:CXO). Castleark Mgmt Lc owns 21,770 shares. Ibm Retirement Fund has 0.11% invested in Concho Resources Inc. (NYSE:CXO). Geode Cap Mgmt Limited Liability Company reported 0.08% in Concho Resources Inc. (NYSE:CXO). Old Mutual Glob Investors (Uk) Ltd invested in 0.01% or 6,800 shares. Oregon Pub Employees Retirement Fund owns 15,837 shares. Arizona State Retirement System holds 0.1% in Concho Resources Inc. (NYSE:CXO) or 63,889 shares. Panagora Asset Mngmt Inc has invested 0.01% in Concho Resources Inc. (NYSE:CXO). Moreover, Ameritas Inv Prtnrs has 0.02% invested in Concho Resources Inc. (NYSE:CXO). Macquarie Group has 0% invested in Concho Resources Inc. (NYSE:CXO). Tiedemann Ltd Llc owns 3,000 shares for 0.03% of their portfolio.

Since January 2, 2018, it had 0 buys, and 1 insider sale for $603,480 activity. POAGE RAY M also sold $603,480 worth of Concho Resources Inc. (NYSE:CXO) on Tuesday, January 2.

Analysts await Concho Resources Inc. (NYSE:CXO) to report earnings on August, 1. They expect $0.91 EPS, up 75.00% or $0.39 from last year’s $0.52 per share. CXO’s profit will be $134.62 million for 34.54 P/E if the $0.91 EPS becomes a reality. After $1.00 actual EPS reported by Concho Resources Inc. for the previous quarter, Wall Street now forecasts -9.00% negative EPS growth.

Office Depot, Inc. (NASDAQ:ODP) Institutional Positions Chart

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