Concho Resources Inc. (NYSE:CXO) fell 3.6% during mid-day trading on Tuesday . The stock traded as low as $130.20 and last traded at $131.59, with a volume of 4,086,393 shares trading hands. The stock had previously closed at $136.44.

CXO has been the subject of several research analyst reports. Morgan Stanley reaffirmed a “buy” rating and set a $187.00 price target on shares of Concho Resources in a research note on Tuesday. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Concho Resources from $127.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup Inc. lifted their price target on Concho Resources from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Concho Resources in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $129.86.

The company’s market cap is $17.34 billion. The company has a 50 day moving average price of $123.50 and a 200 day moving average price of $111.69.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.27. During the same period last year, the company earned $0.38 earnings per share. The firm earned $396.30 million during the quarter, compared to analysts’ expectations of $482.50 million. The business’s revenue for the quarter was down 26.3% compared to the same quarter last year. Equities analysts predict that Concho Resources Inc. will post $0.08 earnings per share for the current year.

In related news, Director Steven L. Beal sold 16,250 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $119.75, for a total value of $1,945,937.50. Following the sale, the director now directly owns 73,652 shares of the company’s stock, valued at approximately $8,819,827. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds have recently bought and sold shares of the company. King Luther Capital Management Corp raised its stake in Concho Resources by 10,148.1% in the fourth quarter. King Luther Capital Management Corp now owns 1,294,845 shares of the company’s stock worth $60,456,000 after buying an additional 1,282,210 shares during the period. Bridgewater Associates LP raised its stake in Concho Resources by 20.3% in the fourth quarter. Bridgewater Associates LP now owns 39,203 shares of the company’s stock worth $3,640,000 after buying an additional 6,603 shares during the period. Utah Retirement Systems raised its stake in Concho Resources by 7.4% in the fourth quarter. Utah Retirement Systems now owns 23,119 shares of the company’s stock worth $2,147,000 after buying an additional 1,600 shares during the period. KBC Group NV raised its stake in Concho Resources by 5.1% in the fourth quarter. KBC Group NV now owns 38,097 shares of the company’s stock worth $3,538,000 after buying an additional 1,843 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Concho Resources by 493.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 179,905 shares of the company’s stock worth $16,706,000 after buying an additional 149,610 shares during the period.

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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.

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