Concho Resources Inc. (CXO) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in Concho Resources Inc. (NYSE:CXO) by 25.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,192 shares of the oil and natural gas company’s stock after purchasing an additional 10,232 shares during the period. Toronto Dominion Bank’s holdings in Concho Resources were worth $6,098,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of Concho Resources by 33.6% in the second quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock valued at $968,000 after purchasing an additional 2,003 shares in the last quarter. Capital Advisors Inc. OK acquired a new stake in shares of Concho Resources in the second quarter valued at approximately $2,093,000. Birinyi Associates Inc. increased its holdings in shares of Concho Resources by 4.3% in the second quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock valued at $1,337,000 after purchasing an additional 450 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Concho Resources by 1.1% in the second quarter. Wells Fargo & Company MN now owns 2,054,048 shares of the oil and natural gas company’s stock valued at $249,628,000 after purchasing an additional 22,167 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Concho Resources by 1.7% in the second quarter. Neuberger Berman Group LLC now owns 573,663 shares of the oil and natural gas company’s stock valued at $69,717,000 after purchasing an additional 9,404 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

In related news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.84, for a total value of $1,917,368.64. Following the transaction, the vice president now 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 is accessible through the SEC website. Insiders own 0.99% of the company’s stock.

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Shares of Concho Resources Inc. (NYSE:CXO) traded up 1.73% on Friday, reaching $132.37. 1,918,848 shares of the company were exchanged. The company’s 50 day moving average is $128.50 and its 200 day moving average is $124.51. The firm has a market capitalization of $19.53 billion, a PE ratio of 30.72 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.

Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The company 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%. Concho Resources’s revenue was up 43.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Analysts forecast that Concho Resources Inc. will post $1.61 earnings per share for the current year.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus set a $185.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Barclays PLC lifted their price target on shares of Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Jefferies Group LLC raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Monday, October 9th. Cowen and Company reissued a “hold” rating and set a $145.00 price target on shares of Concho Resources in a research report on Sunday, October 22nd. Finally, Morgan Stanley lifted their price target on shares of Concho Resources from $152.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $151.11.

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.

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

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