King Luther Capital Management Corp boosted its position in Concho Resources Inc. (NYSE:CXO) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,374 shares of the oil and natural gas company’s stock after buying an additional 462 shares during the period. King Luther Capital Management Corp’s holdings in Concho Resources were worth $3,256,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Concho Resources during the fourth quarter worth about $41,180,000. Security Asset Management increased its stake in shares of Concho Resources by 3.6% in the fourth quarter. Security Asset Management now owns 15,272 shares of the oil and natural gas company’s stock worth $2,025,000 after buying an additional 532 shares during the last quarter. Dodge & Cox purchased a new stake in shares of Concho Resources during the fourth quarter worth about $734,492,000. Norges Bank purchased a new stake in shares of Concho Resources during the fourth quarter worth about $121,185,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Concho Resources by 20.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,094 shares of the oil and natural gas company’s stock worth $1,728,000 after buying an additional 2,255 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
Concho Resources Inc. (NYSE CXO) traded down 0.42% on Thursday, hitting $114.31. 472,096 shares of the company’s stock traded hands. Concho Resources Inc. has a 12 month low of $112.73 and a 12 month high of $147.55. The stock has a market cap of $16.82 billion, a P/E ratio of 78.67 and a beta of 1.03. The stock has a 50 day moving average price of $126.93 and a 200-day moving average price of $132.39.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.18. Concho Resources had a return on equity of 2.44% and a net margin of 10.60%. The company had revenue of $612 million for the quarter, compared to analyst estimates of $607.71 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. Concho Resources’s quarterly revenue was up 115.5% compared to the same quarter last year. Equities analysts predict that Concho Resources Inc. will post $1.64 earnings per share for the current fiscal year.
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CXO has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) increased their price target on shares of Concho Resources from $165.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Credit Suisse Group reissued a “buy” rating and issued a $160.00 price target on shares of Concho Resources in a report on Wednesday, March 1st. Scotiabank set a $156.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Monday, March 27th. Barclays PLC set a $152.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, February 23rd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $173.00 price target (up from $172.00) on shares of Concho Resources in a report on Saturday, April 22nd. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $159.79.
In related news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total transaction of $32,400.00. Corporate insiders own 1.20% of the company’s stock.
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 four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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