Sei Investments Co. Has $18,285,000 Stake in Concho Resources Inc. (CXO)
Sei Investments Co. raised its position in Concho Resources Inc. (NYSE:CXO) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,130 shares of the company’s stock after buying an additional 1,526 shares during the period. Sei Investments Co. owned approximately 0.10% of Concho Resources worth $18,285,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Capital Research Global Investors raised its stake in Concho Resources by 10.8% in the second quarter. Capital Research Global Investors now owns 14,270,430 shares of the company’s stock worth $1,702,034,000 after buying an additional 1,388,475 shares in the last quarter. Vanguard Group Inc. raised its stake in Concho Resources by 3.1% in the second quarter. Vanguard Group Inc. now owns 12,096,923 shares of the company’s stock valued at $1,442,800,000 after buying an additional 369,153 shares during the period. Jennison Associates LLC raised its stake in Concho Resources by 0.5% in the second quarter. Jennison Associates LLC now owns 7,632,992 shares of the company’s stock valued at $910,387,000 after buying an additional 39,645 shares during the period. State Street Corp raised its stake in Concho Resources by 1.3% in the second quarter. State Street Corp now owns 6,202,843 shares of the company’s stock valued at $739,815,000 after buying an additional 78,053 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Concho Resources by 17.8% in the second quarter. JPMorgan Chase & Co. now owns 3,582,904 shares of the company’s stock valued at $427,335,000 after buying an additional 540,313 shares during the period. Institutional investors own 96.32% of the company’s stock.
Shares of Concho Resources Inc. (NYSE:CXO) traded up 10.54% during trading on Wednesday, reaching $140.75. 1,182,037 shares of the company were exchanged. Concho Resources Inc. has a 1-year low of $69.94 and a 1-year high of $143.60. The company’s market capitalization is $19.84 billion. The stock’s 50 day moving average is $133.68 and its 200 day moving average is $127.49.
Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, November 8th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.14. Concho Resources had a negative net margin of 89.23% and a positive return on equity of 0.93%. The business earned $430.55 million during the quarter, compared to analysts’ expectations of $69.10 million. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Equities analysts anticipate that Concho Resources Inc. will post $0.43 earnings per share for the current year.
CXO has been the subject of several analyst reports. Johnson Rice initiated coverage on shares of Concho Resources in a research note on Tuesday, October 4th. They issued an “accumulate” rating for the company. Bank of America Corp. set a $151.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Tuesday, November 8th. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Citigroup Inc. increased their price objective on shares of Concho Resources from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $140.00 target price on shares of Concho Resources in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $139.85.
In other Concho Resources news, CAO Brenda R. Schroer sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $138.04, for a total value of $248,472.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,060 shares in the company, valued at $1,112,602.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.
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.
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