Segall Bryant & Hamill LLC boosted its holdings in Concho Resources Inc (NYSE:CXO) by 62.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,762 shares of the oil and natural gas company’s stock after purchasing an additional 97,865 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.17% of Concho Resources worth $38,421,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CXO. Jennison Associates LLC boosted its holdings in Concho Resources by 10.0% in the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock worth $931,616,000 after purchasing an additional 561,485 shares during the period. Renaissance Technologies LLC acquired a new position in Concho Resources in the fourth quarter worth $63,152,000. BlackRock Inc. boosted its holdings in Concho Resources by 4.3% in the fourth quarter. BlackRock Inc. now owns 9,749,957 shares of the oil and natural gas company’s stock worth $1,464,638,000 after purchasing an additional 402,681 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Concho Resources by 45.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock worth $159,823,000 after purchasing an additional 377,438 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in Concho Resources by 3,704.2% in the fourth quarter. OppenheimerFunds Inc. now owns 297,754 shares of the oil and natural gas company’s stock worth $44,729,000 after purchasing an additional 289,927 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Concho Resources stock opened at $148.49 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.51 and a quick ratio of 0.50. Concho Resources Inc has a 1 year low of $106.73 and a 1 year high of $162.91. The company has a market cap of $22,135.09, a PE ratio of 23.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The firm had revenue of $780.00 million for the quarter, compared to analysts’ expectations of $720.51 million. During the same period in the previous year, the business earned $0.20 earnings per share. Concho Resources’s revenue for the quarter was up 48.6% compared to the same quarter last year. equities analysts anticipate that Concho Resources Inc will post 3.78 EPS for the current year.
Several equities analysts have recently issued reports on the stock. Bank of America raised shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, January 4th. Royal Bank of Canada set a $167.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Wednesday, December 20th. KLR Group downgraded shares of Concho Resources to a “hold” rating and set a $154.00 price target for the company. in a report on Wednesday, December 27th. Jefferies Group set a $173.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, BMO Capital Markets reissued a “buy” rating and set a $200.00 price target on shares of Concho Resources in a report on Sunday, January 14th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $171.05.
In other Concho Resources news, VP E Joseph Wright sold 83,759 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total value of $12,418,946.93. Following the sale, the vice president now directly owns 159,268 shares in the company, valued at $23,614,666.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Timothy A. Leach sold 40,000 shares of the business’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 completion of the sale, the chairman now owns 737,837 shares in the company, valued at $109,303,173.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,759 shares of company stock worth $18,948,027. 0.99% of the stock is owned by company insiders.
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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.
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