Concho Resources Inc. (CXO) Stake Lessened by Fiera Capital Corp

Fiera Capital Corp decreased its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,145 shares of the oil and natural gas company’s stock after selling 1,165 shares during the period. Fiera Capital Corp owned about 0.06% of Concho Resources worth $11,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Concho Resources by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock valued at $1,884,670,000 after buying an additional 653,569 shares in the last quarter. BlackRock Inc. lifted its position in shares of Concho Resources by 2,780.2% during the 1st quarter. BlackRock Inc. now owns 9,649,921 shares of the oil and natural gas company’s stock valued at $1,238,471,000 after buying an additional 9,314,878 shares in the last quarter. State Street Corp lifted its position in shares of Concho Resources by 3.1% during the 1st quarter. State Street Corp now owns 7,872,546 shares of the oil and natural gas company’s stock valued at $1,010,365,000 after buying an additional 236,182 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Concho Resources by 30.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock valued at $825,288,000 after buying an additional 1,599,084 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Concho Resources by 3.6% during the 2nd quarter. Jennison Associates LLC now owns 6,038,410 shares of the oil and natural gas company’s stock valued at $733,848,000 after buying an additional 211,679 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

In other news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the sale, the vice president now directly owns 132,388 shares in the company, valued at $15,203,437.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.99% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on the company. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group set a $164.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC set a $140.00 target price on Concho Resources and gave the company a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company set a $145.00 target price on Concho Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Citigroup Inc. decreased their target price on Concho Resources from $166.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $148.53.

Shares of Concho Resources Inc. (CXO) opened at 122.84 on Friday. The firm has a market capitalization of $18.12 billion, a P/E ratio of 28.51 and a beta of 1.12. The firm has a 50 day moving average price of $115.38 and a 200-day moving average price of $124.04. Concho Resources Inc. has a 52 week low of $106.73 and a 52 week high of $147.55.

Concho Resources (NYSE:CXO) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The company had revenue of $567.00 million for the quarter, compared to the consensus estimate of $626.09 million. During the same period in the previous year, the business earned $0.26 earnings per share. Concho Resources’s quarterly revenue was up 43.2% compared to the same quarter last year. Equities research analysts predict that Concho Resources Inc. will post $1.62 EPS for the current fiscal year.

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Concho Resources 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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Institutional Ownership by Quarter for Concho Resources (NYSE:CXO)

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