Davis Selected Advisers grew its position in shares of Concho Resources Inc. (NYSE:CXO) by 150.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 136,047 shares of the oil and natural gas company’s stock after acquiring an additional 81,649 shares during the period. Davis Selected Advisers owned about 0.09% of Concho Resources worth $17,923,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. IFM Investors Pty Ltd purchased a new position in shares of Concho Resources during the 3rd quarter worth approximately $584,000. Sterling Capital Management LLC boosted its position in shares of Concho Resources by 2.1% in the 3rd quarter. Sterling Capital Management LLC now owns 43,119 shares of the oil and natural gas company’s stock worth $5,680,000 after purchasing an additional 900 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Concho Resources by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 297,930 shares of the oil and natural gas company’s stock worth $39,243,000 after purchasing an additional 6,830 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Concho Resources by 21.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,491 shares of the oil and natural gas company’s stock worth $592,000 after purchasing an additional 793 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Concho Resources by 1.6% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 129,702 shares of the oil and natural gas company’s stock worth $17,085,000 after purchasing an additional 2,059 shares in the last quarter. Hedge funds and other institutional investors own 94.55% of the company’s stock.

CXO has been the topic of a number of analyst reports. Royal Bank of Canada set a $158.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Thursday, August 24th. Jefferies Group reissued a “hold” rating and issued a $109.00 price target (down from $130.00) on shares of Concho Resources in a research report on Tuesday, August 29th. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Piper Jaffray Companies dropped their price target on Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Finally, Stifel Nicolaus set a $185.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $152.42.

Concho Resources Inc. (CXO) opened at $136.80 on Friday. The stock has a market capitalization of $20,563.17, a P/E ratio of 83.31 and a beta of 1.09. Concho Resources Inc. has a 12-month low of $106.73 and a 12-month high of $147.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.

Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. equities analysts anticipate that Concho Resources Inc. will post 1.82 earnings per share for the current fiscal year.

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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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