Kingfisher Capital LLC purchased a new stake in shares of Concho Resources Inc. (NYSE:CXO) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,544 shares of the oil and natural gas company’s stock, valued at approximately $862,000.
Several other hedge funds have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its stake in shares of Concho Resources by 183.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 33,030 shares of the oil and natural gas company’s stock valued at $4,351,000 after purchasing an additional 21,387 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Concho Resources by 57.9% during the third quarter. Bessemer Group Inc. now owns 48,731 shares of the oil and natural gas company’s stock valued at $6,419,000 after purchasing an additional 17,873 shares in the last quarter. Swiss National Bank boosted its stake in shares of Concho Resources by 0.9% during the third quarter. Swiss National Bank now owns 546,556 shares of the oil and natural gas company’s stock valued at $71,992,000 after purchasing an additional 5,100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Concho Resources by 3.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,806 shares of the oil and natural gas company’s stock valued at $2,082,000 after purchasing an additional 485 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Concho Resources by 11.6% during the third quarter. Daiwa Securities Group Inc. now owns 4,464 shares of the oil and natural gas company’s stock valued at $588,000 after purchasing an additional 464 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
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CXO has been the topic of a number of recent research reports. Royal Bank Of Canada set a $158.00 price target on Concho Resources and gave the company a “buy” rating in a research note on Thursday, August 24th. Barclays PLC lifted their price objective on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Cowen and Company reaffirmed a “hold” rating and issued a $145.00 price objective on shares of Concho Resources in a research note on Sunday, October 22nd. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Monday, October 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $109.00 price objective (down from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Concho Resources currently has an average rating of “Buy” and a consensus target price of $151.35.
Concho Resources Inc. (CXO) traded down $1.22 during midday trading on Monday, hitting $143.21. The stock had a trading volume of 830,700 shares, compared to its average volume of 1,296,673. The company has a market capitalization of $21,130.00, a P/E ratio of 86.27 and a beta of 1.09. Concho Resources Inc. has a 52-week low of $106.73 and a 52-week high of $147.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The firm had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. equities analysts expect that Concho Resources Inc. will post 1.79 EPS for the current year.
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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