Ameriprise Financial Inc. boosted its position in shares of Concho Resources Inc. (NYSE:CXO) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 325,119 shares of the oil and natural gas company’s stock after purchasing an additional 51,334 shares during the period. Ameriprise Financial Inc. owned 0.22% of Concho Resources worth $39,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York boosted its position in Concho Resources by 32.0% during the second quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 200 shares during the last quarter. Balentine LLC boosted 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 purchasing an additional 530 shares during the last quarter. Exane Derivatives boosted 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 purchasing an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. boosted 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 purchasing an additional 200 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in Concho Resources during the second quarter valued at $137,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the company. Jefferies Group LLC set a $140.00 price objective on Concho Resources and gave the company a “hold” rating in a research report on Wednesday, July 19th. Cowen and Company set a $145.00 price objective on Concho Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada set a $178.00 price objective on Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub cut Concho Resources from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Scotiabank set a $125.00 price objective on Concho Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $146.76.

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Concho Resources Inc. (CXO) opened at 127.06 on Friday. Concho Resources Inc. has a 1-year low of $106.73 and a 1-year high of $147.55. The stock has a 50 day moving average price of $114.94 and a 200-day moving average price of $123.77. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 29.49 and a beta of 1.12.

Concho Resources (NYSE:CXO) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. During the same period last year, the business posted $0.26 EPS. Concho Resources’s revenue was up 43.2% on a year-over-year basis. Equities analysts predict that Concho Resources Inc. will post $1.61 earnings per share for the current year.

In related news, VP E Joseph Wright sold 16,696 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 132,388 shares in the company, valued at approximately $15,203,437.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.99% of the company’s stock.

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

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