Artisan Partners Limited Partnership boosted its position in shares of Concho Resources Inc. (NYSE:CXO) by 19.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,385,510 shares of the company’s stock after buying an additional 381,986 shares during the period. Artisan Partners Limited Partnership owned approximately 1.69% of Concho Resources worth $316,319,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp increased its position in shares of Concho Resources by 216.2% in the second quarter. Lombard Odier Asset Management USA Corp now owns 136,140 shares of the company’s stock worth $16,237,000 after buying an additional 93,083 shares during the period. Capital Research Global Investors increased its position in shares of Concho Resources by 10.8% in the second quarter. Capital Research Global Investors now owns 14,270,430 shares of the company’s stock worth $1,702,034,000 after buying an additional 1,388,475 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Concho Resources during the second quarter worth about $16,995,000. Capstone Investment Advisors LLC increased its position in shares of Concho Resources by 350.6% in the second quarter. Capstone Investment Advisors LLC now owns 10,310 shares of the company’s stock worth $1,229,000 after buying an additional 8,022 shares during the period. Finally, Passport Capital LLC bought a new position in shares of Concho Resources during the second quarter worth about $52,241,000. Institutional investors and hedge funds own 97.25% of the company’s stock.
Concho Resources Inc. (NYSE:CXO) traded up 2.32% during trading on Friday, hitting $143.11. The stock had a trading volume of 1,521,676 shares. The firm has a 50 day moving average of $137.42 and a 200-day moving average of $133.91. The company’s market cap is $20.17 billion. Concho Resources Inc. has a one year low of $86.63 and a one year high of $147.55.
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CXO has been the topic of a number of research analyst reports. Jefferies Group LLC set a $123.00 price target on Concho Resources and gave the stock a “hold” rating in a report on Tuesday, October 18th. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Friday, November 4th. RBC Capital Markets reissued a “buy” rating and issued a $165.00 price target on shares of Concho Resources in a report on Wednesday, January 4th. Barclays PLC lowered their price target on Concho Resources from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Finally, Bank of America Corporation set a $151.00 price target on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $148.68.
In related news, CEO Timothy A. Leach sold 46,150 shares of Concho Resources stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $135.28, for a total transaction of $6,243,172.00. Following the transaction, the chief executive officer now owns 656,263 shares in the company, valued at $88,779,258.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Brenda R. Schroer sold 1,800 shares of Concho Resources stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $138.04, for a total value of $248,472.00. Following the transaction, the chief accounting officer now owns 8,060 shares in the company, valued at approximately $1,112,602.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,950 shares of company stock worth $10,275,844. 1.20% of the stock is currently owned by company insiders.
Concho Resources Company 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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.
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