DFT Energy LP Has $7.90 Million Position in Concho Resources Inc. (CXO)
DFT Energy LP cut its stake in shares of Concho Resources Inc. (NYSE:CXO) by 31.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,000 shares of the oil and natural gas company’s stock after selling 30,000 shares during the period. Concho Resources accounts for about 6.6% of DFT Energy LP’s investment portfolio, making the stock its 8th largest position. DFT Energy LP’s holdings in Concho Resources were worth $7,899,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in CXO. Sentry Investments Corp. purchased a new stake in shares of Concho Resources during the second quarter valued at approximately $1,823,000. Principal Financial Group Inc. raised its stake in shares of Concho Resources by 30.2% in the second quarter. Principal Financial Group Inc. now owns 416,314 shares of the oil and natural gas company’s stock valued at $50,595,000 after buying an additional 96,638 shares during the last quarter. IndexIQ Advisors LLC bought a new position in Concho Resources during the second quarter worth approximately $312,000. Birinyi Associates Inc. raised its position in Concho Resources by 4.3% in the second quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock worth $1,337,000 after buying an additional 450 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in Concho Resources by 1.7% in the second quarter. Neuberger Berman Group LLC now owns 573,663 shares of the oil and natural gas company’s stock worth $69,717,000 after buying an additional 9,404 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.
Concho Resources Inc. (NYSE CXO) traded up 1.97% during trading on Thursday, reaching $110.90. 200,748 shares of the company were exchanged. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 25.74 and a beta of 1.09. Concho Resources Inc. has a 52-week low of $107.73 and a 52-week high of $147.55. The firm has a 50-day moving average of $120.36 and a 200-day moving average of $126.45.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The firm had revenue of $567 million during the quarter, compared to analyst estimates of $626.09 million. During the same quarter last year, the business earned $0.26 EPS. The company’s revenue was up 43.2% compared to the same quarter last year. On average, equities analysts forecast that Concho Resources Inc. will post $1.62 EPS for the current year.
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CXO has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. lowered their price objective on shares of Concho Resources from $168.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, July 13th. ValuEngine upgraded shares of Concho Resources from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group set a $164.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “buy” rating and set a $180.00 price objective on shares of Concho Resources in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $148.53.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the transaction, the vice president now owns 132,388 shares in the company, valued at approximately $15,203,437.92. The transaction was disclosed in a document filed 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.
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