Janney Montgomery Scott LLC boosted its stake in Concho Resources Inc. (NYSE:CXO) by 137.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,698 shares of the oil and natural gas company’s stock after buying an additional 2,139 shares during the period. Janney Montgomery Scott LLC’s holdings in Concho Resources were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Concho Resources by 2,780.2% in the first quarter. BlackRock Inc. now owns 9,649,921 shares of the oil and natural gas company’s stock valued at $1,238,471,000 after buying an additional 9,314,878 shares during the last quarter. Lime Rock Management LP purchased a new position in Concho Resources during the first quarter valued at $198,407,000. Vanguard Group Inc. boosted its position in Concho Resources by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock valued at $1,884,670,000 after buying an additional 653,569 shares during the last quarter. State Street Corp boosted its position in Concho Resources by 3.1% in the first quarter. State Street Corp now owns 7,872,546 shares of the oil and natural gas company’s stock valued at $1,010,365,000 after buying an additional 236,182 shares during the last quarter. Finally, TCW Group Inc. boosted its position in Concho Resources by 81.4% in the first quarter. TCW Group Inc. now owns 490,346 shares of the oil and natural gas company’s stock valued at $62,931,000 after buying an additional 219,969 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Shares of Concho Resources Inc. (NYSE:CXO) opened at 108.52 on Monday. The company has a 50 day moving average of $122.15 and a 200 day moving average of $127.57. Concho Resources Inc. has a 1-year low of $107.84 and a 1-year high of $147.55. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 25.18 and a beta of 1.09.

Concho Resources (NYSE:CXO) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $567 million during the quarter, compared to the consensus estimate of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The firm’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. On average, equities analysts forecast that Concho Resources Inc. will post $1.61 earnings per share for the current fiscal year.

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Several equities analysts have weighed in on CXO shares. BidaskClub upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut shares of Concho Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC set a $140.00 price objective on shares of Concho Resources and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and set a $192.00 price objective on shares of Concho Resources in a research report on Friday, July 14th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $180.00 price objective on shares of Concho Resources in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Hold” and a consensus target price of $151.53.

In related news, VP E Joseph Wright sold 16,696 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.84, for a total value of $1,917,368.64. Following the completion of the transaction, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.99% of the stock is currently owned by company 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.

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

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