Concho Resources Inc. (CXO) Position Lifted by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. boosted its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,466 shares of the oil and natural gas company’s stock after buying an additional 2,115 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Concho Resources were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Balentine LLC raised its position in Concho Resources by 176.7% during 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% during 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% during 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. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on CXO shares. Scotiabank set a $125.00 price target on Concho Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets reissued a “buy” rating and set a $180.00 price target on shares of Concho Resources in a research report on Monday, May 15th. Royal Bank Of Canada reissued a “buy” rating and set a $178.00 price target on shares of Concho Resources in a research report on Friday, May 12th. Credit Suisse Group set a $164.00 target price on Concho Resources and gave the stock a “buy” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. dropped their target price on Concho Resources from $168.00 to $166.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $148.53.
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Concho Resources Inc. (NYSE:CXO) opened at 111.79 on Tuesday. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 25.94 and a beta of 1.12. The stock’s 50 day moving average price is $118.59 and its 200-day moving average price is $125.40. Concho Resources Inc. has a one year low of $106.73 and a one year high of $147.55.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $567 million for the quarter, compared to the consensus estimate of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. Concho Resources’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Analysts forecast that Concho Resources Inc. will post $1.62 earnings per share for the current year.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the transaction, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.99% of the stock is 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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