Sand Hill Global Advisors LLC increased its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,733 shares of the oil and natural gas company’s stock after acquiring an additional 321 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Concho Resources were worth $2,641,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Balentine LLC grew its stake in Concho Resources by 176.7% during the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock worth $107,000 after buying an additional 530 shares in the last quarter. Exane Derivatives grew its stake in Concho Resources by 247.2% during the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock worth $126,000 after buying an additional 739 shares in the last quarter. NN Investment Partners Holdings N.V. grew its stake in Concho Resources by 22.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock worth $132,000 after buying an additional 200 shares in the last quarter. Twin Tree Management LP acquired a new stake in Concho Resources during the second quarter worth about $137,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Concho Resources during the first quarter worth about $174,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Concho Resources Inc. (NYSE:CXO) opened at 127.06 on Friday. The company’s 50-day moving average is $114.94 and its 200 day moving average is $123.77. Concho Resources Inc. has a 52-week low of $106.73 and a 52-week high of $147.55. The firm has a market capitalization of $18.75 billion, a P/E ratio of 29.49 and a beta of 1.12.
Concho Resources (NYSE:CXO) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The business had revenue of $567.00 million during the quarter, compared to analyst estimates of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. Concho Resources’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Analysts expect that Concho Resources Inc. will post $1.61 EPS for the current fiscal year.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the completion of the sale, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.99% of the stock is owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada set a $178.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research downgraded shares of Concho Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Barclays PLC reduced their price objective on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 8th. BMO Capital Markets reiterated a “buy” rating on shares of Concho Resources in a research note on Friday, August 11th. Finally, Scotiabank set a $125.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $146.76.
Concho Resources Company 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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