Pinebridge Investments L.P. raised its stake in Concho Resources Inc. (NYSE:CXO) by 299.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,864 shares of the oil and natural gas company’s stock after acquiring an additional 1,397 shares during the period. Pinebridge Investments L.P.’s holdings in Concho Resources were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in Concho Resources by 1.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,251,112 shares of the oil and natural gas company’s stock valued at $152,048,000 after acquiring an additional 12,378 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Concho Resources by 7.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 400,394 shares of the oil and natural gas company’s stock valued at $48,660,000 after acquiring an additional 26,908 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Concho Resources by 9.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 10,175 shares of the oil and natural gas company’s stock valued at $1,237,000 after acquiring an additional 842 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Concho Resources by 7.2% in the 2nd quarter. New York State Common Retirement Fund now owns 374,454 shares of the oil and natural gas company’s stock valued at $45,507,000 after acquiring an additional 25,265 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in Concho Resources by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,377,303 shares of the oil and natural gas company’s stock valued at $288,914,000 after acquiring an additional 71,910 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Concho Resources Inc. (NYSE CXO) opened at 135.22 on Thursday. Concho Resources Inc. has a 12 month low of $106.73 and a 12 month high of $147.55. The company has a market cap of $19.95 billion, a price-to-earnings ratio of 31.38 and a beta of 1.14. The company’s 50-day moving average price is $118.84 and its 200-day moving average price is $123.90.

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 for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The business had revenue of $567.00 million for the quarter, compared to the consensus estimate of $626.09 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. Analysts anticipate that Concho Resources Inc. will post $1.61 EPS for the current year.

CXO has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $109.00 price objective (down from $130.00) on shares of Concho Resources in a report on Tuesday, August 29th. BidaskClub raised Concho Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research cut Concho Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Concho Resources in a report on Friday, July 14th. Finally, Citigroup Inc. dropped their price objective on Concho Resources from $166.00 to $151.00 and set a “buy” rating for the company in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $147.13.

In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 132,388 shares in the company, valued at $15,203,437.92. The transaction 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.

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

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