KCG Holdings Inc. cut its stake in Concho Resources Inc (NYSE:CXO) by 50.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,387 shares of the oil and natural gas company’s stock after selling 10,621 shares during the period. KCG Holdings Inc.’s holdings in Concho Resources were worth $1,333,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Concho Resources during the fourth quarter valued at $6,565,000. Private Advisor Group LLC acquired a new stake in Concho Resources during the fourth quarter valued at approximately $295,000. Federated Investors Inc. PA increased its stake in Concho Resources by 42.5% in the fourth quarter. Federated Investors Inc. PA now owns 20,957 shares of the oil and natural gas company’s stock valued at $2,779,000 after buying an additional 6,250 shares during the period. Marshall Wace LLP acquired a new stake in Concho Resources during the fourth quarter valued at approximately $7,172,000. Finally, Gabelli Funds LLC increased its stake in Concho Resources by 2.7% in the fourth quarter. Gabelli Funds LLC now owns 38,000 shares of the oil and natural gas company’s stock valued at $5,039,000 after buying an additional 1,000 shares during the period. Institutional investors own 93.05% of the company’s stock.
Concho Resources Inc (NYSE CXO) traded down 1.30% during mid-day trading on Tuesday, reaching $124.38. 842,514 shares of the company traded hands. The company’s 50 day moving average price is $121.43 and its 200 day moving average price is $129.88. Concho Resources Inc has a 12-month low of $112.73 and a 12-month high of $147.55. The firm has a market capitalization of $18.30 billion, a P/E ratio of 85.60 and a beta of 1.09.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.18. The company had revenue of $612 million for the quarter, compared to the consensus estimate of $607.71 million. Concho Resources had a return on equity of 32.28% and a net margin of 106.21%. Concho Resources’s quarterly revenue was up 115.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. Equities research analysts predict that Concho Resources Inc will post $1.59 EPS for the current year.
Several research firms have commented on CXO. Credit Suisse Group set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Saturday, May 6th. Royal Bank Of Canada set a $178.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Saturday, June 17th. Scotiabank set a $125.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Saturday, July 1st. Citigroup Inc lowered their price target on shares of Concho Resources from $168.00 to $166.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. Finally, Bank of America Corporation downgraded shares of Concho Resources from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $155.00 to $128.00 in a report on Friday, June 30th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $155.30.
In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total value of $32,400.00. Corporate insiders own 1.20% of the company’s stock.
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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