SG Americas Securities LLC lowered its holdings in Concho Resources Inc (NYSE:CXO) by 48.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,709 shares of the oil and natural gas company’s stock after selling 13,101 shares during the period. SG Americas Securities LLC’s holdings in Concho Resources were worth $2,061,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of CXO. Nisa Investment Advisors LLC raised its position in shares of Concho Resources by 3.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,695 shares of the oil and natural gas company’s stock worth $4,010,000 after purchasing an additional 1,000 shares during the period. Bank of Montreal Can raised its position in shares of Concho Resources by 10.7% during the 4th quarter. Bank of Montreal Can now owns 71,123 shares of the oil and natural gas company’s stock worth $10,684,000 after purchasing an additional 6,876 shares during the period. National Pension Service increased its position in Concho Resources by 4.3% in the 4th quarter. National Pension Service now owns 157,554 shares of the oil and natural gas company’s stock valued at $23,668,000 after acquiring an additional 6,481 shares during the period. Creative Planning increased its position in Concho Resources by 154.2% in the 4th quarter. Creative Planning now owns 6,852 shares of the oil and natural gas company’s stock valued at $1,029,000 after acquiring an additional 4,157 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Concho Resources by 7.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 517,867 shares of the oil and natural gas company’s stock valued at $77,794,000 after acquiring an additional 34,958 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.
CXO opened at $143.65 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.65 and a quick ratio of 0.64. Concho Resources Inc has a 12 month low of $106.73 and a 12 month high of $163.11. The firm has a market capitalization of $21.98 billion, a P/E ratio of 68.73 and a beta of 0.99.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, May 1st. The oil and natural gas company reported $1.00 EPS for the quarter, beating the Zacks’ 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 business had revenue of $947.00 million during the quarter, compared to analysts’ expectations of $808.60 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s quarterly revenue was up 54.7% on a year-over-year basis. sell-side analysts forecast that Concho Resources Inc will post 4.61 earnings per share for the current fiscal year.
CXO has been the topic of several analyst reports. JPMorgan Chase & Co. set a $180.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Tuesday, May 15th. Morgan Stanley lifted their price target on Concho Resources from $155.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus set a $195.00 price objective on Concho Resources and gave the stock a “buy” rating in a research note on Monday, January 29th. Jefferies Group set a $187.00 price objective on Concho Resources and gave the stock a “buy” rating in a research note on Monday, March 19th. Finally, ValuEngine cut Concho Resources from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $172.41.
Concho Resources Company 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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