ING Groep NV acquired a new position in shares of Concho Resources Inc (NYSE:CXO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,340 shares of the oil and natural gas company’s stock, valued at approximately $201,000.
Several other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Concho Resources by 1.9% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,573 shares of the oil and natural gas company’s stock worth $3,444,000 after acquiring an additional 428 shares during the period. Raymond James Trust N.A. purchased a new stake in shares of Concho Resources during the fourth quarter worth $272,000. Meeder Asset Management Inc. increased its position in shares of Concho Resources by 325.2% during the fourth quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock worth $137,000 after acquiring an additional 696 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Concho Resources by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 28,630 shares of the oil and natural gas company’s stock worth $4,301,000 after acquiring an additional 940 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Concho Resources by 2.3% during the fourth quarter. Gabelli Funds LLC now owns 39,500 shares of the oil and natural gas company’s stock worth $5,934,000 after acquiring an additional 900 shares during the period. 95.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on CXO shares. Morgan Stanley increased their target price on Concho Resources from $155.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Stifel Nicolaus set a $195.00 target price on Concho Resources and gave the company a “buy” rating in a report on Monday, January 29th. BMO Capital Markets reissued a “buy” rating and issued a $200.00 target price on shares of Concho Resources in a report on Sunday, January 14th. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, KLR Group lowered Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 target price on the stock. in a report on Thursday, December 21st. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $168.55.
In other Concho Resources news, Chairman Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the transaction, the chairman now owns 737,837 shares of the company’s stock, valued at $109,303,173.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP E Joseph Wright sold 83,759 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total value of $12,418,946.93. Following the transaction, the vice president now directly owns 159,268 shares in the company, valued at approximately $23,614,666.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,759 shares of company stock worth $18,948,027. Corporate insiders own 0.99% of the company’s stock.
Concho Resources Inc (CXO) opened at $149.16 on Thursday. The stock has a market capitalization of $21,880.62, a PE ratio of 69.41 and a beta of 1.00. Concho Resources Inc has a twelve month low of $106.73 and a twelve month high of $162.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.20. The company had revenue of $780.00 million for the quarter, compared to analyst estimates of $720.51 million. Concho Resources had a return on equity of 3.64% and a net margin of 36.97%. The business’s quarterly revenue was up 48.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. sell-side analysts forecast that Concho Resources Inc will post 3.24 EPS for the current year.
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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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