Concho Resources Inc (CXO) Shares Sold by DnB Asset Management AS

DnB Asset Management AS lessened its stake in shares of Concho Resources Inc (NYSE:CXO) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,355 shares of the oil and natural gas company’s stock after selling 3,500 shares during the period. DnB Asset Management AS’s holdings in Concho Resources were worth $2,757,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in Concho Resources by 12.4% during the 3rd quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock worth $7,428,000 after purchasing an additional 6,206 shares during the last quarter. Nordea Investment Management AB grew its position in Concho Resources by 33.6% during the 2nd quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock worth $968,000 after purchasing an additional 2,003 shares during the last quarter. Texas Capital Bancshares Inc. TX grew its position in Concho Resources by 5.5% during the 3rd quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock worth $958,000 after purchasing an additional 380 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Concho Resources by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock worth $31,851,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Concho Resources by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock worth $47,654,000 after purchasing an additional 36,662 shares during the last quarter. 94.47% of the stock is currently owned by institutional investors.

Shares of Concho Resources Inc (NYSE:CXO) opened at $159.09 on Friday. The company has a market cap of $23,660.00, a price-to-earnings ratio of 41.87 and a beta of 1.08. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources Inc has a twelve month low of $106.73 and a twelve month high of $159.52.

Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business had revenue of $627.00 million for the quarter, compared to the consensus estimate of $614.12 million. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. sell-side analysts predict that Concho Resources Inc will post 1.86 earnings per share for the current fiscal year.

In related news, Director Ray M. Poage sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total value of $603,480.00. Following the completion of the transaction, the director now directly owns 24,799 shares in the company, valued at approximately $3,741,425.13. The transaction 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.

Several research firms have weighed in on CXO. Piper Jaffray Companies reissued a “buy” rating and set a $170.00 target price on shares of Concho Resources in a research report on Tuesday, January 9th. Bank of America raised shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, January 4th. Zacks Investment Research downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. KLR Group downgraded shares of Concho Resources to a “hold” rating and set a $154.00 target price on the stock. in a research report on Wednesday, December 27th. Finally, Jefferies Group set a $173.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $156.37.

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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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