Segall Bryant & Hamill LLC Sells 24,276 Shares of Concho Resources Inc (CXO)

Segall Bryant & Hamill LLC cut its stake in shares of Concho Resources Inc (NYSE:CXO) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,486 shares of the oil and natural gas company’s stock after selling 24,276 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Concho Resources were worth $34,799,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Allied Advisory Services Inc. bought a new position in shares of Concho Resources during the first quarter valued at approximately $202,000. ING Groep NV bought a new position in shares of Concho Resources during the fourth quarter valued at approximately $201,000. Commerce Bank acquired a new position in shares of Concho Resources during the first quarter worth approximately $205,000. Advisor Partners LLC acquired a new position in shares of Concho Resources during the first quarter worth approximately $240,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Concho Resources during the first quarter worth approximately $262,000. 97.16% of the stock is owned by institutional investors.

Concho Resources stock traded down $0.20 during mid-day trading on Thursday, hitting $131.40. 7,825 shares of the company’s stock were exchanged, compared to its average volume of 1,851,389. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.64. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 62.53 and a beta of 0.96. Concho Resources Inc has a 1-year low of $106.73 and a 1-year high of $163.11.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, May 1st. The oil and natural gas company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. Concho Resources had a net margin of 39.06% and a return on equity of 4.34%. The company had revenue of $947.00 million during the quarter, compared to analysts’ expectations of $808.60 million. During the same period in the prior year, the company earned $0.49 earnings per share. The business’s quarterly revenue was up 54.7% compared to the same quarter last year. sell-side analysts anticipate that Concho Resources Inc will post 4.43 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein downgraded Concho Resources from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $180.00 to $130.00 in a research report on Thursday, June 7th. ValuEngine downgraded Concho Resources from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. JPMorgan Chase & Co. set a $180.00 price objective on Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Credit Suisse Group boosted their price objective on Concho Resources from $164.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. Finally, Stephens set a $217.00 price objective on Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Concho Resources has an average rating of “Buy” and a consensus price target of $169.82.

Concho Resources Profile

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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