Teacher Retirement System of Texas lessened its position in shares of Concho Resources Inc (NYSE:CXO) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,903 shares of the oil and natural gas company’s stock after selling 7,255 shares during the quarter. Teacher Retirement System of Texas’ holdings in Concho Resources were worth $4,946,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in Concho Resources by 325.2% during the 4th quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock valued at $137,000 after purchasing an additional 696 shares during the last quarter. ING Groep NV purchased a new stake in Concho Resources during the 4th quarter valued at about $201,000. Commerce Bank purchased a new stake in Concho Resources during the 1st quarter valued at about $205,000. Park Avenue Securities LLC purchased a new stake in Concho Resources during the 4th quarter valued at about $208,000. Finally, Harbor Advisors LLC purchased a new stake in Concho Resources during the 4th quarter valued at about $225,000. Institutional investors and hedge funds own 97.16% of the company’s stock.
Several research firms have weighed in on CXO. Credit Suisse Group boosted their price target on Concho Resources from $164.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Jefferies Group set a $185.00 price target on Concho Resources and gave the company a “buy” rating in a research note on Tuesday, January 30th. Stifel Nicolaus set a $195.00 price objective on Concho Resources and gave the company a “buy” rating in a report on Monday, January 29th. Deutsche Bank started coverage on Concho Resources in a report on Thursday, February 1st. They issued a “hold” rating and a $171.00 price objective for the company. Finally, Zacks Investment Research raised Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 price objective for the company in a report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $172.41.
NYSE CXO opened at $142.24 on Friday. The stock has a market capitalization of $21.41 billion, a P/E ratio of 68.06 and a beta of 0.99. Concho Resources Inc has a twelve month low of $106.73 and a twelve month high of $163.11. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.24.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, May 1st. The oil and natural gas company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $947.00 million during the quarter, compared to analysts’ expectations of $808.60 million. Concho Resources had a return on equity of 4.34% and a net margin of 39.06%. Concho Resources’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. equities research analysts expect that Concho Resources Inc will post 4.58 EPS for the current year.
About Concho Resources
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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