Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,750 shares of the oil and natural gas company’s stock after acquiring an additional 500 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Concho Resources were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of CXO. US Bancorp DE lifted its holdings in shares of Concho Resources by 5.4% during the 1st quarter. US Bancorp DE now owns 6,198 shares of the oil and natural gas company’s stock valued at $795,000 after acquiring an additional 318 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Concho Resources by 11.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 373,486 shares of the oil and natural gas company’s stock valued at $47,933,000 after acquiring an additional 39,408 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Concho Resources during the 1st quarter valued at $4,686,000. Ameriprise Financial Inc. lifted its holdings in shares of Concho Resources by 23.8% during the 1st quarter. Ameriprise Financial Inc. now owns 273,785 shares of the oil and natural gas company’s stock valued at $35,137,000 after acquiring an additional 52,564 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in shares of Concho Resources by 252.0% during the 1st quarter. CIBC World Markets Inc. now owns 20,261 shares of the oil and natural gas company’s stock valued at $2,600,000 after acquiring an additional 14,505 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Concho Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $109.00 price objective (down previously from $130.00) on shares of Concho Resources in a report on Tuesday, August 29th. Royal Bank Of Canada set a $158.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. cut their price objective on shares of Concho Resources from $151.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Concho Resources in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $148.53.
Shares of Concho Resources Inc. (CXO) opened at 122.84 on Monday. The firm has a market capitalization of $18.12 billion, a price-to-earnings ratio of 28.51 and a beta of 1.12. Concho Resources Inc. has a 1-year low of $106.73 and a 1-year high of $147.55. The company’s 50-day moving average is $115.38 and its 200 day moving average is $124.04.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $626.09 million. During the same quarter in the previous year, the company earned $0.26 EPS. Concho Resources’s revenue was up 43.2% on a year-over-year basis. On average, analysts expect that Concho Resources Inc. will post $1.62 EPS for the current fiscal year.
In other news, VP E Joseph Wright sold 16,696 shares of Concho Resources stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the sale, the vice president now owns 132,388 shares in the company, valued at approximately $15,203,437.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.99% of the stock is owned by insiders.
About Concho Resources
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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