Pax World Management LLC Trims Holdings in Concho Resources Inc. (CXO)

Pax World Management LLC decreased its position in Concho Resources Inc. (NYSE:CXO) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,459 shares of the oil and natural gas company’s stock after selling 4,000 shares during the quarter. Pax World Management LLC’s holdings in Concho Resources were worth $3,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York increased its stake in Concho Resources by 32.0% in the 2nd quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock worth $100,000 after acquiring an additional 200 shares during the last quarter. Exane Derivatives increased its stake in Concho Resources by 247.2% in the 2nd quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock worth $126,000 after acquiring an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Concho Resources by 22.5% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock worth $132,000 after acquiring an additional 200 shares during the last quarter. Sun Life Financial INC increased its stake in Concho Resources by 10,850.0% in the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock worth $133,000 after acquiring an additional 1,085 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in Concho Resources in the 2nd quarter worth approximately $137,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on CXO shares. Zacks Investment Research downgraded Concho Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Barclays PLC lifted their price objective on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies cut their target price on Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. BidaskClub downgraded Concho Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $151.35.

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Shares of Concho Resources Inc. (NYSE:CXO) traded up $0.02 during mid-day trading on Friday, hitting $144.45. The company’s stock had a trading volume of 17,568 shares, compared to its average volume of 1,292,928. Concho Resources Inc. has a twelve month low of $106.73 and a twelve month high of $147.77. The stock has a market cap of $21,569.84, a PE ratio of 87.39 and a beta of 1.09. 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 (NYSE:CXO) last issued its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same period in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. analysts forecast that Concho Resources Inc. will post 1.79 EPS for the current fiscal year.

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.

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

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