Comerica Bank increased its holdings in Concho Resources Inc (NYSE:CXO) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,979 shares of the oil and natural gas company’s stock after purchasing an additional 2,248 shares during the period. Comerica Bank’s holdings in Concho Resources were worth $5,385,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CXO. Calamos Advisors LLC boosted its holdings in Concho Resources by 110.6% in the second quarter. Calamos Advisors LLC now owns 54,405 shares of the oil and natural gas company’s stock worth $7,527,000 after purchasing an additional 28,574 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Concho Resources by 165.4% in the second quarter. Retirement Systems of Alabama now owns 189,015 shares of the oil and natural gas company’s stock worth $26,150,000 after purchasing an additional 117,803 shares in the last quarter. Amalgamated Bank boosted its holdings in Concho Resources by 4.0% in the second quarter. Amalgamated Bank now owns 17,849 shares of the oil and natural gas company’s stock worth $2,469,000 after purchasing an additional 679 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Concho Resources in the second quarter worth $232,000. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Concho Resources by 23.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 59,070 shares of the oil and natural gas company’s stock worth $8,172,000 after purchasing an additional 11,170 shares in the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.

A number of equities research analysts recently issued reports on CXO shares. TheStreet upgraded shares of Concho Resources from a “c+” rating to a “b” rating in a report on Friday, September 28th. KLR Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and boosted their target price for the stock from $166.00 to $178.00 in a research report on Tuesday, July 24th. Williams Capital reissued a “buy” rating and set a $189.00 target price on shares of Concho Resources in a research report on Monday, July 23rd. Piper Jaffray Companies reissued a “buy” rating and set a $220.00 target price on shares of Concho Resources in a research report on Friday, July 20th. Finally, Goldman Sachs Group raised shares of Concho Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Concho Resources presently has an average rating of “Buy” and a consensus price target of $181.00.

Shares of CXO opened at $127.50 on Wednesday. The stock has a market cap of $26.00 billion, a PE ratio of 30.06 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.55 and a quick ratio of 0.53. Concho Resources Inc has a 52 week low of $123.63 and a 52 week high of $163.11.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Concho Resources had a net margin of 26.92% and a return on equity of 6.13%. The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities analysts predict that Concho Resources Inc will post 4.87 EPS for the current year.

In other news, SVP Lee Price Moncrief sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total transaction of $559,440.00. Following the completion of the transaction, the senior vice president now owns 16,193 shares of the company’s stock, valued at $2,264,752.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven L. Beal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $137.24, for a total transaction of $343,100.00. Following the transaction, the director now directly owns 75,548 shares of the company’s stock, valued at approximately $10,368,207.52. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock valued at $2,376,320 in the last ninety days. 1.10% of the stock is owned by company insiders.

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Concho Resources Company Profile

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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