Syntal Capital Partners LLC Has $328,000 Stake in Concho Resources Inc. (CXO)
Syntal Capital Partners LLC boosted its stake in shares of Concho Resources Inc. (NYSE:CXO) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 2,755 shares of the company’s stock after buying an additional 26 shares during the period. Concho Resources makes up about 0.4% of Syntal Capital Partners LLC’s holdings, making the stock its 20th largest position. Syntal Capital Partners LLC’s holdings in Concho Resources were worth $328,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Concho Resources by 131.7% in the first quarter. State Street Corp now owns 6,124,790 shares of the company’s stock valued at $618,850,000 after buying an additional 3,481,877 shares during the last quarter. Carmignac Gestion purchased a new position in shares of Concho Resources during the second quarter valued at approximately $209,179,000. Dodge & Cox boosted its position in shares of Concho Resources by 15.7% in the first quarter. Dodge & Cox now owns 5,668,500 shares of the company’s stock valued at $572,745,000 after buying an additional 767,650 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Concho Resources by 50.5% in the first quarter. BlackRock Fund Advisors now owns 2,286,677 shares of the company’s stock valued at $231,046,000 after buying an additional 767,642 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Concho Resources during the second quarter valued at approximately $41,741,000. Institutional investors own 91.12% of the company’s stock.
Concho Resources Inc. (NYSE:CXO) traded up 0.23% on Monday, reaching $137.66. 1,433,118 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $130.39 and its 200 day moving average price is $119.84. The company’s market cap is $17.98 billion. Concho Resources Inc. has a 12 month low of $69.94 and a 12 month high of $138.42.
Concho Resources (NYSE:CXO) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.27. Concho Resources had a negative net margin of 72.25% and a positive return on equity of 0.90%. The firm had revenue of $396.30 million for the quarter, compared to analysts’ expectations of $482.50 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue was down 26.3% on a year-over-year basis. On average, equities analysts expect that Concho Resources Inc. will post $0.22 EPS for the current fiscal year.
CXO has been the subject of several analyst reports. Morgan Stanley set a $173.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG boosted their target price on shares of Concho Resources from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Seaport Global Securities raised shares of Concho Resources from a “neutral” rating to an “accumulate” rating and set a $140.00 price target on the stock in a report on Tuesday, June 7th. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, Stifel Nicolaus lifted their price target on shares of Concho Resources from $141.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $135.52.
About Concho Resources
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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