Capital Research Global Investors boosted its position in Concho Resources Inc (NYSE:CXO) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,583,880 shares of the oil and natural gas company’s stock after buying an additional 423,417 shares during the period. Capital Research Global Investors owned approximately 12.23% of Concho Resources worth $2,152,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Concho Resources in the 4th quarter valued at about $32,000. CFM Wealth Partners LLC acquired a new stake in Concho Resources in the fourth quarter valued at approximately $36,000. Huntington National Bank bought a new stake in shares of Concho Resources during the fourth quarter valued at approximately $44,000. Parallel Advisors LLC raised its position in shares of Concho Resources by 57.9% during the fourth quarter. Parallel Advisors LLC now owns 815 shares of the oil and natural gas company’s stock worth $71,000 after purchasing an additional 299 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of Concho Resources by 1,513.3% during the fourth quarter. Advisory Services Network LLC now owns 1,210 shares of the oil and natural gas company’s stock worth $106,000 after purchasing an additional 1,135 shares during the period. Institutional investors own 95.59% of the company’s stock.

NYSE:CXO traded up $2.51 on Thursday, reaching $46.27. 30,163 shares of the stock traded hands, compared to its average volume of 4,218,660. Concho Resources Inc has a 1-year low of $33.13 and a 1-year high of $124.53. The company’s 50 day moving average is $63.78 and its 200-day moving average is $72.52. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of -12.75, a price-to-earnings-growth ratio of 4.04 and a beta of 1.47. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22.

Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, February 18th. The oil and natural gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.24. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.17 billion. Concho Resources had a positive return on equity of 3.38% and a negative net margin of 15.35%. Concho Resources’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. On average, equities research analysts forecast that Concho Resources Inc will post 2.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. This is a positive change from Concho Resources’s previous quarterly dividend of $0.13. This represents a $0.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, February 27th. Concho Resources’s dividend payout ratio is presently 26.23%.

CXO has been the subject of several recent analyst reports. UBS Group lowered their price target on Concho Resources from $161.00 to $151.00 and set a “buy” rating for the company in a report on Friday, January 24th. Wells Fargo & Co reduced their price objective on shares of Concho Resources from $92.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. KeyCorp decreased their price objective on Concho Resources from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday. SunTrust Banks raised their target price on Concho Resources from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. Finally, Barclays cut their price target on shares of Concho Resources from $141.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $98.87.

About Concho Resources

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

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

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