Envestnet Asset Management Inc. lifted its position in shares of Concho Resources Inc (NYSE:CXO) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,397 shares of the oil and natural gas company’s stock after acquiring an additional 3,082 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Concho Resources were worth $1,485,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Concho Resources by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock worth $261,459,000 after acquiring an additional 181,294 shares during the period. American Century Companies Inc. lifted its holdings in Concho Resources by 20.1% during the 1st quarter. American Century Companies Inc. now owns 2,465,573 shares of the oil and natural gas company’s stock worth $273,580,000 after purchasing an additional 412,726 shares in the last quarter. Northern Trust Corp lifted its holdings in Concho Resources by 0.9% during the 1st quarter. Northern Trust Corp now owns 2,330,088 shares of the oil and natural gas company’s stock worth $258,546,000 after purchasing an additional 21,749 shares in the last quarter. FIL Ltd lifted its holdings in Concho Resources by 11.8% during the 1st quarter. FIL Ltd now owns 1,716,909 shares of the oil and natural gas company’s stock worth $190,508,000 after purchasing an additional 181,581 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Concho Resources by 10.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 846,869 shares of the oil and natural gas company’s stock worth $93,969,000 after purchasing an additional 82,241 shares in the last quarter. Institutional investors own 95.46% of the company’s stock.
A number of analysts recently issued reports on CXO shares. TD Securities dropped their price objective on Concho Resources from $115.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. SunTrust Banks dropped their price objective on Concho Resources to $100.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus set a $188.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Friday, August 2nd. Credit Suisse Group dropped their price objective on Concho Resources from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Finally, Barclays increased their price objective on Concho Resources from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Concho Resources presently has a consensus rating of “Buy” and a consensus target price of $142.96.
NYSE:CXO opened at $69.44 on Wednesday. The business’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $100.53. Concho Resources Inc has a twelve month low of $63.92 and a twelve month high of $160.81. The stock has a market cap of $14.71 billion, a P/E ratio of 19.40 and a beta of 1.24. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.24.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.05). Concho Resources had a net margin of 11.63% and a return on equity of 4.12%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business earned $1.24 EPS. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts expect that Concho Resources Inc will post 3.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 9th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.50 annualized dividend and a dividend yield of 0.72%. Concho Resources’s payout ratio is currently 10.89%.
In other news, Director Susan J. Helms acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $70.12 per share, with a total value of $49,084.00. Following the acquisition, the director now owns 5,137 shares in the company, valued at approximately $360,206.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brenda R. Schroer acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $69.67 per share, for a total transaction of $104,505.00. Following the completion of the acquisition, the chief financial officer now owns 35,137 shares in the company, valued at approximately $2,447,994.79. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 16,200 shares of company stock worth $1,084,349. Insiders own 1.10% of the company’s stock.
Concho Resources Company Profile
Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.
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