BlackRock Inc. boosted its position in shares of Concho Resources Inc (NYSE:CXO) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,749,957 shares of the oil and natural gas company’s stock after buying an additional 402,681 shares during the period. BlackRock Inc. owned 6.56% of Concho Resources worth $1,464,638,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in Concho Resources by 12.4% in the third quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock valued at $7,428,000 after acquiring an additional 6,206 shares during the last quarter. Texas Capital Bancshares Inc. TX increased its position in shares of Concho Resources by 5.5% during the third quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock worth $958,000 after acquiring an additional 380 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Concho Resources by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock worth $31,851,000 after acquiring an additional 1,440 shares during the period. Ameriprise Financial Inc. increased its position in shares of Concho Resources by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock worth $47,654,000 after acquiring an additional 36,662 shares during the period. Finally, Channing Capital Management LLC increased its position in shares of Concho Resources by 3.0% during the third quarter. Channing Capital Management LLC now owns 94,544 shares of the oil and natural gas company’s stock worth $12,453,000 after acquiring an additional 2,771 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.
Shares of Concho Resources Inc (NYSE:CXO) traded down $0.29 during trading hours on Wednesday, hitting $150.21. 731,413 shares of the company were exchanged, compared to its average volume of 1,266,602. The company has a current ratio of 0.51, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The company has a market cap of $22,390.00, a P/E ratio of 40.27, a PEG ratio of 0.92 and a beta of 1.01. Concho Resources Inc has a twelve month low of $106.73 and a twelve month high of $162.91.
Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.20. The firm had revenue of $780.00 million during the quarter, compared to analyst estimates of $720.51 million. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. Concho Resources’s revenue was up 48.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. analysts expect that Concho Resources Inc will post 3.71 earnings per share for the current fiscal year.
Several research firms recently commented on CXO. Jefferies Group set a $173.00 target price on Concho Resources and gave the company a “buy” rating in a report on Wednesday, December 20th. Deutsche Bank assumed coverage on shares of Concho Resources in a research note on Thursday, February 1st. They set a “hold” rating and a $171.00 target price for the company. SunTrust Banks downgraded shares of Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Friday, December 15th. Finally, KLR Group cut shares of Concho Resources to a “hold” rating and set a $154.00 target price for the company. in a report on Wednesday, December 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Concho Resources currently has a consensus rating of “Buy” and a consensus price target of $169.35.
In other Concho Resources news, Chairman Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total value of $5,925,600.00. Following the transaction, the chairman now owns 737,837 shares in the company, valued at approximately $109,303,173.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP E Joseph Wright sold 83,759 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at $23,614,666.36. The disclosure for this sale can be found here. Insiders sold a total of 127,759 shares of company stock worth $18,948,027 over the last quarter. Insiders own 0.99% of the company’s stock.
Concho Resources Company Profile
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. 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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