First National Bank of Omaha maintained its stake in shares of Concho Resources Inc. (NYSE:CXO) during the second quarter, Holdings Channel reports. The firm owned 21,000 shares of the oil and natural gas company’s stock at the end of the second quarter. First National Bank of Omaha’s holdings in Concho Resources were worth $2,111,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of CXO. Vanguard Group Inc. raised its stake in shares of Concho Resources by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock worth $1,884,670,000 after buying an additional 653,569 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Concho Resources by 20.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,094 shares of the oil and natural gas company’s stock worth $1,728,000 after buying an additional 2,255 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Concho Resources during the first quarter worth approximately $693,000. TD Asset Management Inc. raised its stake in shares of Concho Resources by 34.8% in the first quarter. TD Asset Management Inc. now owns 91,606 shares of the oil and natural gas company’s stock worth $11,757,000 after buying an additional 23,660 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Concho Resources during the first quarter valued at about $9,804,000. Institutional investors and hedge funds own 93.05% of the company’s stock.
Concho Resources Inc. (CXO) traded down 0.217% during trading on Friday, reaching $126.195. The company had a trading volume of 179,127 shares. The firm’s 50-day moving average price is $121.37 and its 200 day moving average price is $129.84. The firm has a market capitalization of $18.56 billion, a P/E ratio of 86.851 and a beta of 1.08. Concho Resources Inc. has a one year low of $112.73 and a one year high of $147.55.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.18. The business had revenue of $612 million for the quarter, compared to analysts’ expectations of $607.71 million. Concho Resources had a return on equity of 2.44% and a net margin of 10.60%. The business’s quarterly revenue was up 115.5% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. Equities analysts forecast that Concho Resources Inc. will post $1.58 earnings per share for the current fiscal year.
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CXO has been the topic of several research reports. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Monday, March 27th. Scotiabank set a $156.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Monday, March 27th. Stifel Nicolaus initiated coverage on Concho Resources in a research note on Wednesday, April 12th. They issued a “buy” rating and a $206.00 target price on the stock. Citigroup Inc. restated a “buy” rating and issued a $173.00 target price (up from $172.00) on shares of Concho Resources in a research note on Saturday, April 22nd. Finally, Royal Bank Of Canada set a $171.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $154.81.
In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total transaction of $32,400.00. 1.20% of the stock is owned by company insiders.
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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