Concho Resources Inc. (CXO) Shares Bought by KBC Group NV
KBC Group NV increased its position in Concho Resources Inc. (NYSE:CXO) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,090 shares of the company’s stock after buying an additional 5,901 shares during the period. KBC Group NV’s holdings in Concho Resources were worth $8,528,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Artemis Investment Management LLP raised its stake in shares of Concho Resources by 31.1% in the second quarter. Artemis Investment Management LLP now owns 90,823 shares of the company’s stock worth $10,832,000 after buying an additional 21,528 shares during the period. Standard Life Investments LTD raised its stake in shares of Concho Resources by 30.3% in the second quarter. Standard Life Investments LTD now owns 684,574 shares of the company’s stock worth $81,646,000 after buying an additional 159,042 shares during the period. Artisan Partners Limited Partnership increased its position in Concho Resources by 7.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,106,833 shares of the company’s stock worth $132,012,000 after buying an additional 79,559 shares in the last quarter. British Airways Pensions Investment Management Ltd increased its position in Concho Resources by 16.4% in the second quarter. British Airways Pensions Investment Management Ltd now owns 312,380 shares of the company’s stock worth $37,405,000 after buying an additional 44,000 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in Concho Resources by 4.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 4,038 shares of the company’s stock worth $482,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 96.32% of the company’s stock.
Shares of Concho Resources Inc. (NYSE:CXO) traded down 0.99% during trading on Tuesday, hitting $128.22. The stock had a trading volume of 1,335,322 shares. The firm has a 50 day moving average of $133.68 and a 200 day moving average of $127.49. The company’s market capitalization is $18.08 billion. Concho Resources Inc. has a 1-year low of $69.94 and a 1-year high of $143.60.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.14. The business had revenue of $430.55 million for the quarter, compared to analysts’ expectations of $69.10 million. Concho Resources had a positive return on equity of 0.93% and a negative net margin of 89.23%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Analysts expect that Concho Resources Inc. will post $0.43 EPS for the current fiscal year.
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CXO has been the subject of a number of research reports. KLR Group lifted their price objective on shares of Concho Resources from $138.00 to $153.00 and gave the stock an “accumulate” rating in a report on Wednesday, August 3rd. Johnson Rice initiated coverage on shares of Concho Resources in a report on Tuesday, October 4th. They issued an “accumulate” rating for the company. Morgan Stanley reaffirmed a “buy” rating and issued a $187.00 price objective on shares of Concho Resources in a report on Tuesday, August 16th. Deutsche Bank AG lifted their price objective on shares of Concho Resources from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Concho Resources in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $139.85.
In other Concho Resources news, CAO Brenda R. Schroer sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $138.04, for a total transaction of $248,472.00. Following the transaction, the chief accounting officer now owns 8,060 shares in the company, valued at $1,112,602.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by corporate 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 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.
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