New York State Common Retirement Fund lowered its stake in Concho Resources Inc. (NYSE:CXO) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 363,117 shares of the oil and natural gas company’s stock after selling 11,337 shares during the period. New York State Common Retirement Fund owned 0.24% of Concho Resources worth $47,830,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Israel Discount Bank of New York lifted its position in Concho Resources by 32.0% in the 2nd quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after acquiring an additional 200 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of Concho Resources by 10,850.0% during the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after buying an additional 1,085 shares during the period. Twin Tree Management LP bought a new position in Concho Resources in the 2nd quarter worth $137,000. C M Bidwell & Associates Ltd. raised its holdings in Concho Resources by 1.4% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after purchasing an additional 20 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Concho Resources by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the oil and natural gas company’s stock worth $216,000 after buying an additional 1,051 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.
CXO has been the subject of a number of analyst reports. Royal Bank Of Canada set a $158.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, August 24th. 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 research note on Tuesday, August 15th. BMO Capital Markets reissued a “buy” rating on shares of Concho Resources in a research note on Friday, August 11th. Jefferies Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Monday, October 9th. Finally, Stifel Nicolaus set a $185.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research note on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $153.89.
Shares of Concho Resources Inc. (CXO) traded down $2.34 during mid-day trading on Thursday, reaching $135.97. 964,500 shares of the company traded hands, compared to its average volume of 1,272,063. The stock has a market capitalization of $20,566.14, a price-to-earnings ratio of 83.32 and a beta of 1.09. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources Inc. has a 12 month low of $106.73 and a 12 month high of $147.77.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The company 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%. Concho Resources’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. analysts anticipate that Concho Resources Inc. will post 1.82 EPS for the current fiscal year.
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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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