Frontier Investment Mgmt Co. Sells 509 Shares of Concho Resources Inc (CXO)

Frontier Investment Mgmt Co. lessened its stake in shares of Concho Resources Inc (NYSE:CXO) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the oil and natural gas company’s stock after selling 509 shares during the quarter. Frontier Investment Mgmt Co.’s holdings in Concho Resources were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Concho Resources by 4.3% during the 4th quarter. BlackRock Inc. now owns 9,749,957 shares of the oil and natural gas company’s stock valued at $1,464,638,000 after acquiring an additional 402,681 shares in the last quarter. Jennison Associates LLC boosted its position in Concho Resources by 10.0% during the 4th quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after acquiring an additional 561,485 shares in the last quarter. Carmignac Gestion boosted its position in Concho Resources by 7.6% during the 3rd quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after acquiring an additional 189,251 shares in the last quarter. American Century Companies Inc. boosted its position in Concho Resources by 8.8% during the 3rd quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after acquiring an additional 117,366 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Concho Resources by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,273,940 shares of the oil and natural gas company’s stock valued at $167,803,000 after acquiring an additional 22,828 shares in the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.

In other Concho Resources news, VP E Joseph Wright sold 83,759 shares of Concho Resources stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the sale, the vice president now owns 159,268 shares of the company’s stock, valued at approximately $23,614,666.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the sale, the director now directly owns 24,799 shares of the company’s stock, valued at approximately $3,741,425.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,759 shares of company stock valued at $18,948,027. 0.99% of the stock is currently owned by insiders.

Shares of Concho Resources Inc (CXO) opened at $146.52 on Tuesday. Concho Resources Inc has a 52-week low of $106.73 and a 52-week high of $162.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $21,786.94, a price-to-earnings ratio of 38.97 and a beta of 1.00.

Several analysts have issued reports on the company. Jefferies Group set a $173.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Wednesday, December 20th. Deutsche Bank assumed coverage on Concho Resources in a research report on Thursday, February 1st. They set a “hold” rating and a $171.00 target price on the stock. SunTrust Banks cut Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Friday, December 15th. Finally, KLR Group cut Concho Resources to a “hold” rating and set a $154.00 target price on the stock. in a research report on Wednesday, December 27th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Concho Resources presently has a consensus rating of “Buy” and a consensus price target of $168.55.

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Concho Resources Company 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.

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

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