Concho Resources Inc. (CXO) Holdings Raised by Colony Group LLC
Colony Group LLC boosted its position in Concho Resources Inc. (NYSE:CXO) by 5.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 72,139 shares of the oil and natural gas company’s stock after purchasing an additional 3,824 shares during the period. Colony Group LLC’s holdings in Concho Resources were worth $8,767,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CXO. Israel Discount Bank of New York grew its position in shares of Concho Resources by 32.0% during the 2nd 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 acquiring an additional 200 shares during the period. Balentine LLC grew its position in shares of Concho Resources by 176.7% during the 1st quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after acquiring an additional 530 shares during the period. Exane Derivatives grew its position in shares of Concho Resources by 247.2% during the 2nd quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after acquiring an additional 739 shares during the period. NN Investment Partners Holdings N.V. grew its position in shares of Concho Resources by 22.5% during the 2nd 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 acquiring an additional 200 shares during the period. Finally, Sun Life Financial INC grew its position in shares of Concho Resources by 10,850.0% during the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after acquiring an additional 1,085 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the stock in a transaction dated 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 transaction, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.99% of the company’s stock.
A number of research analysts have recently weighed in on CXO shares. Royal Bank Of Canada set a $178.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Seaport Global Securities downgraded shares of Concho Resources from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $163.00 to $100.00 in a report on Wednesday, June 21st. BidaskClub downgraded shares of Concho Resources from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Concho Resources in a report on Thursday, June 22nd. Finally, Bank of America Corporation downgraded shares of Concho Resources from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $155.00 to $128.00 in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $151.06.
Shares of Concho Resources Inc. (CXO) traded down 0.47% during midday trading on Friday, reaching $134.37. 321,308 shares of the company’s stock were exchanged. The stock has a market cap of $19.82 billion, a PE ratio of 31.18 and a beta of 1.14. Concho Resources Inc. has a 12-month low of $106.73 and a 12-month high of $147.55. The stock’s 50 day moving average is $123.30 and its 200-day moving average is $124.27.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $567.00 million for the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The business’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities analysts expect that Concho Resources Inc. will post $1.60 EPS for the current year.
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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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