Concho Resources Inc. (CXO) Position Cut by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC reduced its position in shares of Concho Resources Inc. (NYSE:CXO) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,195 shares of the oil and natural gas company’s stock after selling 1,300 shares during the period. Nisa Investment Advisors LLC’s holdings in Concho Resources were worth $3,479,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CXO. Balentine LLC raised its position in Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 530 shares during the period. Exane Derivatives raised its position in Concho Resources by 247.2% in the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after buying an additional 739 shares during the period. NN Investment Partners Holdings N.V. raised its position in Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after buying an additional 200 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Concho Resources during the first quarter valued at $174,000. Finally, Baird Financial Group Inc. acquired a new position in Concho Resources during the first quarter valued at $201,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Shares of Concho Resources Inc. (NYSE CXO) opened at 131.70 on Wednesday. Concho Resources Inc. has a 52-week low of $112.73 and a 52-week high of $147.55. The stock has a 50 day moving average of $121.46 and a 200-day moving average of $129.68. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 90.64 and a beta of 1.08.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.18. Concho Resources had a return on equity of 2.44% and a net margin of 10.60%. The business had revenue of $612 million during the quarter, compared to analyst estimates of $607.71 million. During the same period in the previous year, the firm earned ($0.05) EPS. Concho Resources’s quarterly revenue was up 115.5% compared to the same quarter last year. On average, equities research analysts predict that Concho Resources Inc. will post $1.52 EPS for the current fiscal year.
Several research firms have recently weighed in on CXO. Royal Bank Of Canada set a $178.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub lowered shares of Concho Resources from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Scotiabank set a $125.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Cowen and Company set a $145.00 price objective on shares of Concho Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $154.10.
In related news, Director Lawrence J. Nagy sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is currently owned by 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 four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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