Concho Resources Inc. (CXO) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Concho Resources Inc. (NYSE:CXO) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 451,088 shares of the oil and natural gas company’s stock after selling 17,678 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.30% of Concho Resources worth $59,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. C M Bidwell & Associates Ltd. grew its holdings in Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 20 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Concho Resources by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after purchasing an additional 35 shares during the period. Cadence Capital Management LLC grew its holdings in Concho Resources by 0.9% in the second quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock valued at $639,000 after purchasing an additional 48 shares during the period. Private Advisor Group LLC grew its holdings in Concho Resources by 2.5% in the second quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock valued at $304,000 after purchasing an additional 60 shares during the period. Finally, Symphony Asset Management LLC grew its holdings in Concho Resources by 2.5% in the second quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock valued at $341,000 after purchasing an additional 69 shares during the period. 92.17% of the stock is currently owned by institutional investors.

Several brokerages have commented on CXO. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday, November 6th. SunTrust Banks, Inc. set a $145.00 price objective on Concho Resources and gave the company a “buy” rating in a report on Tuesday, October 31st. Cowen and Company reissued a “hold” rating and issued a $145.00 price objective on shares of Concho Resources in a report on Sunday, October 22nd. KeyCorp set a $150.00 price objective on Concho Resources and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Morgan Stanley raised their price objective on Concho Resources from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $151.35.

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Concho Resources Inc. (CXO) opened at $138.65 on Friday. Concho Resources Inc. has a 1 year low of $106.73 and a 1 year high of $147.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $20,616.70, a P/E ratio of 83.52 and a beta of 1.09.

Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Zacks’ 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 company had revenue of $627.00 million for the quarter, compared to the consensus estimate of $614.12 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. analysts forecast that Concho Resources Inc. will post 1.79 EPS for the current year.

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

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