Dynamic Technology Lab Private Ltd purchased a new stake in shares of Concho Resources Inc (NYSE:CXO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,359 shares of the oil and natural gas company’s stock, valued at approximately $1,107,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Suntrust Banks Inc. boosted its holdings in Concho Resources by 32.8% during the first quarter. Suntrust Banks Inc. now owns 14,986 shares of the oil and natural gas company’s stock valued at $2,250,000 after acquiring an additional 3,699 shares during the period. CIBC World Markets Inc. bought a new stake in Concho Resources during the first quarter valued at about $1,357,000. Xact Kapitalforvaltning AB raised its position in shares of Concho Resources by 15.9% during the first quarter. Xact Kapitalforvaltning AB now owns 17,215 shares of the oil and natural gas company’s stock valued at $2,588,000 after buying an additional 2,368 shares during the last quarter. Royal Bank of Canada raised its position in shares of Concho Resources by 18.8% during the first quarter. Royal Bank of Canada now owns 608,402 shares of the oil and natural gas company’s stock valued at $91,461,000 after buying an additional 96,275 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its position in shares of Concho Resources by 13.2% during the first quarter. Atlantic Trust Group LLC now owns 114,124 shares of the oil and natural gas company’s stock valued at $17,157,000 after buying an additional 13,351 shares during the last quarter. Institutional investors own 97.10% of the company’s stock.
Concho Resources opened at $127.36 on Monday, Marketbeat reports. Concho Resources Inc has a 12-month low of $106.73 and a 12-month high of $163.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $18.55 billion, a P/E ratio of 60.94 and a beta of 0.96.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, May 1st. The oil and natural gas company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.19. Concho Resources had a net margin of 39.06% and a return on equity of 4.34%. The firm had revenue of $947.00 million during the quarter, compared to analyst estimates of $808.60 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s quarterly revenue was up 54.7% compared to the same quarter last year. equities analysts predict that Concho Resources Inc will post 4.41 EPS for the current fiscal year.
A number of research analysts have recently commented on CXO shares. Jefferies Financial Group set a $187.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Monday, March 19th. Credit Suisse Group upped their price objective on shares of Concho Resources from $164.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, May 2nd. Sanford C. Bernstein lowered shares of Concho Resources from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $180.00 to $130.00 in a research report on Thursday, June 7th. KeyCorp upped their price objective on shares of Concho Resources from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, April 23rd. Finally, SunTrust Banks set a $165.00 price objective on shares of Concho Resources and gave the company a “hold” rating in a research report on Monday, April 16th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $173.36.
Concho Resources Profile
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.
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