Lucas Capital Management bought a new position in shares of Concho Resources Inc. (NYSE:CXO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,500 shares of the oil and natural gas company’s stock, valued at approximately $668,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 in the last quarter. BlackRock Inc. boosted its stake in shares of Concho Resources by 2,780.2% in the first quarter. BlackRock Inc. now owns 9,649,921 shares of the oil and natural gas company’s stock worth $1,238,471,000 after buying an additional 9,314,878 shares during the last quarter. State Street Corp boosted its stake in shares of Concho Resources by 3.1% in the first quarter. State Street Corp now owns 7,872,546 shares of the oil and natural gas company’s stock worth $1,010,365,000 after buying an additional 236,182 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Concho Resources by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 3,889,540 shares of the oil and natural gas company’s stock worth $499,184,000 after buying an additional 46,388 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Concho Resources by 1.8% in the first quarter. American Century Companies Inc. now owns 1,622,118 shares of the oil and natural gas company’s stock worth $208,183,000 after buying an additional 28,520 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Shares of Concho Resources Inc. (NYSE CXO) opened at 118.73 on Friday. Concho Resources Inc. has a 1-year low of $112.73 and a 1-year high of $147.55. The firm’s 50-day moving average price is $122.96 and its 200 day moving average price is $129.53. The stock has a market capitalization of $17.66 billion, a P/E ratio of 27.40 and a beta of 1.09.

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 Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The firm had revenue of $567 million for the quarter, compared to analysts’ expectations of $626.09 million. During the same quarter last year, the company posted $0.26 earnings per share. Concho Resources’s revenue was up 43.2% on a year-over-year basis. Analysts expect that Concho Resources Inc. will post $1.54 EPS for the current fiscal year.

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A number of equities research analysts have recently weighed in on CXO shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Concho Resources in a research note on Monday, May 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Concho Resources in a research note on Friday, May 12th. Credit Suisse Group set a $158.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Saturday, May 6th. Scotiabank set a $156.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $173.00 price objective (up from $172.00) on shares of Concho Resources in a research note on Saturday, April 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $154.05.

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 shares were sold at an average price of $0.27, for a total value of $32,400.00. Company insiders own 1.20% of the company’s stock.

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 four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.

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Institutional Ownership by Quarter for Concho Resources (NYSE:CXO)

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