Robeco Institutional Asset Management B.V. lessened its holdings in Concho Resources Inc (NYSE:CXO) by 68.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,076 shares of the oil and natural gas company’s stock after selling 13,356 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Concho Resources were worth $929,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CXO. DnB Asset Management AS boosted its holdings in shares of Concho Resources by 6.4% in the 2nd quarter. DnB Asset Management AS now owns 19,855 shares of the oil and natural gas company’s stock valued at $2,747,000 after purchasing an additional 1,200 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Concho Resources by 43.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 6,949 shares of the oil and natural gas company’s stock valued at $961,000 after acquiring an additional 2,104 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Concho Resources by 43.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,976 shares of the oil and natural gas company’s stock valued at $4,285,000 after acquiring an additional 9,340 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Concho Resources during the 2nd quarter valued at $2,657,000. Finally, Calamos Advisors LLC boosted its holdings in shares of Concho Resources by 110.6% during the 2nd quarter. Calamos Advisors LLC now owns 54,405 shares of the oil and natural gas company’s stock valued at $7,527,000 after acquiring an additional 28,574 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Erick Nelson sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $133.98, for a total value of $1,473,780.00. Following the transaction, the senior vice president now owns 51,058 shares in the company, valued at $6,840,750.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lee Price Moncrief sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total value of $559,440.00. Following the completion of the transaction, the senior vice president now owns 16,193 shares in the company, valued at approximately $2,264,752.98. The disclosure for this sale can be found here. Insiders sold a total of 17,500 shares of company stock worth $2,376,320 in the last 90 days. Company insiders own 1.10% of the company’s stock.
Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.27. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue was up 90.1% compared to the same quarter last year. On average, analysts forecast that Concho Resources Inc will post 4.83 EPS for the current fiscal year.
Several research analysts recently issued reports on CXO shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $220.00 target price on shares of Concho Resources in a research report on Friday, July 20th. Williams Capital reissued a “buy” rating and issued a $189.00 price objective on shares of Concho Resources in a research report on Monday, July 23rd. Susquehanna Bancshares started coverage on Concho Resources in a research report on Wednesday, July 11th. They issued a “positive” rating and a $175.00 price objective for the company. ValuEngine lowered Concho Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley lowered their price objective on Concho Resources from $178.00 to $169.00 and set a “hold” rating for the company in a research report on Monday. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Concho Resources has a consensus rating of “Buy” and an average target price of $181.00.
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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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