Concho Resources Inc. (CXO) Shares Bought by Standard Life Investments LTD
Standard Life Investments LTD increased its stake in shares of Concho Resources Inc. (NYSE:CXO) by 30.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 684,574 shares of the company’s stock after buying an additional 159,042 shares during the period. Standard Life Investments LTD owned approximately 0.53% of Concho Resources worth $81,646,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Concho Resources by 131.7% in the first quarter. State Street Corp now owns 6,124,790 shares of the company’s stock valued at $618,850,000 after buying an additional 3,481,877 shares during the period. Dodge & Cox boosted its position in Concho Resources by 15.7% in the first quarter. Dodge & Cox now owns 5,668,500 shares of the company’s stock valued at $572,745,000 after buying an additional 767,650 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Concho Resources by 8.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,372,494 shares of the company’s stock valued at $340,757,000 after buying an additional 249,372 shares during the period. BlackRock Fund Advisors boosted its position in Concho Resources by 50.5% in the first quarter. BlackRock Fund Advisors now owns 2,286,677 shares of the company’s stock valued at $231,046,000 after buying an additional 767,642 shares during the period. Finally, Carmignac Gestion bought a new position in Concho Resources during the second quarter valued at $209,179,000. Institutional investors own 91.12% of the company’s stock.
Concho Resources Inc. (NYSE:CXO) traded down 0.33% during midday trading on Tuesday, hitting $137.20. 1,179,564 shares of the stock were exchanged. Concho Resources Inc. has a 1-year low of $69.94 and a 1-year high of $138.55. The company’s market capitalization is $17.92 billion. The company’s 50 day moving average is $130.50 and its 200 day moving average is $120.31.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.27. The company had revenue of $396.30 million for the quarter, compared to the consensus estimate of $482.50 million. Concho Resources had a negative net margin of 72.25% and a positive return on equity of 0.90%. The firm’s quarterly revenue was down 26.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Analysts predict that Concho Resources Inc. will post $0.22 earnings per share for the current fiscal year.
CXO has been the subject of several research analyst reports. Johnson Rice initiated coverage on shares of Concho Resources in a report on Tuesday. They issued an “accumulate” rating for the company. Citigroup Inc. increased their target price on shares of Concho Resources from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Deutsche Bank AG restated a “buy” rating and set a $140.00 target price on shares of Concho Resources in a report on Thursday, August 4th. Credit Suisse Group AG restated a “buy” rating and set a $154.00 target price on shares of Concho Resources in a report on Monday, September 12th. Finally, Jefferies Group restated a “hold” rating on shares of Concho Resources in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $136.57.
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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.
Receive News & Stock Ratings for Concho Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources Inc. and related stocks with our FREE daily email newsletter.