Nomura Asset Management Co. Ltd. Has $2.63 Million Stake in Concho Resources Inc. (CXO)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,983 shares of the oil and natural gas company’s stock after buying an additional 1,378 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Concho Resources were worth $2,632,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CXO. Janney Montgomery Scott LLC grew its position in shares of Concho Resources by 137.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,698 shares of the oil and natural gas company’s stock worth $449,000 after buying an additional 2,139 shares during the period. TD Asset Management Inc. grew its holdings in Concho Resources by 1.3% during the second quarter. TD Asset Management Inc. now owns 92,774 shares of the oil and natural gas company’s stock valued at $11,275,000 after purchasing an additional 1,168 shares during the period. Wetherby Asset Management Inc. grew its holdings in Concho Resources by 31.7% during the second quarter. Wetherby Asset Management Inc. now owns 2,283 shares of the oil and natural gas company’s stock valued at $277,000 after purchasing an additional 550 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Concho Resources by 6.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 467,660 shares of the oil and natural gas company’s stock valued at $56,835,000 after purchasing an additional 26,376 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Concho Resources by 6.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 13,992 shares of the oil and natural gas company’s stock valued at $1,751,000 after purchasing an additional 898 shares during the period. Institutional investors own 94.55% of the company’s stock.

Shares of Concho Resources Inc. (CXO) opened at $141.15 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market cap of $20,848.67, a price-to-earnings ratio of 84.46 and a beta of 1.09. Concho Resources Inc. has a 1 year low of $106.73 and a 1 year high of $147.77.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. research analysts forecast that Concho Resources Inc. will post 1.82 EPS for the current year.

A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $185.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays boosted their price objective on shares of Concho Resources from $144.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Morgan Stanley boosted their price objective on shares of Concho Resources from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Citigroup decreased their price objective on shares of Concho Resources from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. Finally, Cowen restated a “hold” rating and set a $145.00 price objective on shares of Concho Resources in a report on Sunday, October 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $152.42.

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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.

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

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