IFM Investors Pty Ltd Has $1.60 Million Stake in Concho Resources Inc (CXO)

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IFM Investors Pty Ltd lifted its holdings in Concho Resources Inc (NYSE:CXO) by 50.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,484 shares of the oil and natural gas company’s stock after purchasing an additional 3,535 shares during the quarter. IFM Investors Pty Ltd’s holdings in Concho Resources were worth $1,601,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Concho Resources during the second quarter valued at about $166,000. Cerebellum GP LLC bought a new position in Concho Resources during the third quarter valued at about $188,000. Summit X LLC bought a new position in Concho Resources during the second quarter valued at about $203,000. KC Investment Advisors LLC bought a new position in Concho Resources during the second quarter valued at about $204,000. Finally, Cornerstone Wealth Management LLC bought a new position in Concho Resources during the second quarter valued at about $232,000. 78.70% of the stock is owned by institutional investors.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. set a $188.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Monday, October 29th. Wells Fargo & Co assumed coverage on Concho Resources in a research note on Wednesday, October 24th. They set an “outperform” rating and a $209.00 target price for the company. KLR Group reaffirmed a “buy” rating and set a $175.00 target price on shares of Concho Resources in a research note on Monday, August 20th. ValuEngine cut Concho Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Finally, TheStreet raised Concho Resources from a “c+” rating to a “b” rating in a research note on Friday, September 28th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Concho Resources has an average rating of “Buy” and a consensus target price of $181.60.

Shares of NYSE:CXO traded up $3.80 during midday trading on Friday, reaching $138.39. The company had a trading volume of 2,413,658 shares, compared to its average volume of 1,964,964. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.24. Concho Resources Inc has a 1-year low of $123.63 and a 1-year high of $163.11. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 66.22 and a beta of 1.00.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts predict that Concho Resources Inc will post 4.87 earnings per share for the current year.

In related news, SVP Erick Nelson sold 11,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 51,058 shares of the company’s stock, valued at approximately $6,840,750.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven L. Beal sold 2,500 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $137.24, for a total value of $343,100.00. Following the completion of the sale, the director now directly owns 75,548 shares of the company’s stock, valued at $10,368,207.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,500 shares of company stock valued at $2,376,320. Company insiders own 1.10% of the company’s stock.

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Concho Resources 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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Institutional Ownership by Quarter for Concho Resources (NYSE:CXO)

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