Concho Resources Inc. (CXO) Position Boosted by Capital Fund Management S.A.
Capital Fund Management S.A. increased its stake in Concho Resources Inc. (NYSE:CXO) by 37.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,138 shares of the oil and natural gas company’s stock after acquiring an additional 13,474 shares during the quarter. Capital Fund Management S.A.’s holdings in Concho Resources were worth $5,972,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CXO. Balentine LLC lifted its stake in shares of Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock worth $107,000 after acquiring an additional 530 shares during the period. Exane Derivatives lifted its stake in shares of 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 worth $126,000 after acquiring an additional 739 shares during the period. NN Investment Partners Holdings N.V. lifted its stake in shares of 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 worth $132,000 after acquiring an additional 200 shares during the period. Twin Tree Management LP acquired a new position in shares of Concho Resources in the second quarter worth approximately $137,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Concho Resources in the first quarter worth approximately $174,000. 92.41% of the stock is currently owned by institutional investors.
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In other news, VP E Joseph Wright sold 16,696 shares of the firm’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 value 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 is available at the SEC website. Company insiders own 0.99% of the company’s stock.
Shares of Concho Resources Inc. (NYSE CXO) traded up 0.21% during trading on Monday, hitting $112.30. The stock had a trading volume of 37,483 shares. The firm has a 50 day moving average price of $117.02 and a 200-day moving average price of $124.61. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 26.06 and a beta of 1.12. Concho Resources Inc. has a 52 week low of $106.73 and a 52 week 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The company had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. 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 business posted $0.26 EPS. On average, equities research analysts forecast that Concho Resources Inc. will post $1.62 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Concho Resources in a research note on Monday, May 15th. Jefferies Group LLC set a $140.00 price objective on Concho Resources and gave the stock a “hold” rating in a research note on Wednesday, May 17th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $172.00 price objective (up from $171.00) on shares of Concho Resources in a research note on Wednesday, May 17th. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group set a $164.00 price target on Concho Resources and gave the company a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $148.53.
Concho Resources 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 four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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