Concho Resources Inc. (CXO) Position Held by Eaton Vance Management
Eaton Vance Management maintained its position in shares of Concho Resources Inc. (NYSE:CXO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,459 shares of the oil and natural gas company’s stock at the close of the 2nd quarter. Eaton Vance Management’s holdings in Concho Resources were worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balentine LLC boosted its stake in shares of Concho Resources by 176.7% during the 1st quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock worth $107,000 after acquiring an additional 530 shares in the last quarter. Exane Derivatives boosted its stake in shares of Concho Resources by 247.2% during the 2nd quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock worth $126,000 after acquiring an additional 739 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of Concho Resources by 22.5% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock worth $132,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Concho Resources during the 1st quarter worth about $174,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Concho Resources during the 1st quarter worth about $201,000. Institutional investors own 92.41% of the company’s stock.
Shares of Concho Resources Inc. (NYSE CXO) opened at 122.84 on Friday. The company’s 50-day moving average price is $115.38 and its 200-day moving average price is $124.04. The firm has a market capitalization of $18.12 billion, a PE ratio of 28.51 and a beta of 1.12. Concho Resources Inc. has a 12-month low of $106.73 and a 12-month high of $147.55.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating the 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 business had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 43.2% on a year-over-year basis. Analysts anticipate that Concho Resources Inc. will post $1.62 EPS for the current year.
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In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the transaction, the vice president now directly owns 132,388 shares in the company, valued at $15,203,437.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.99% of the stock is owned by insiders.
Several analysts have recently issued reports on CXO shares. Credit Suisse Group set a $164.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Friday, June 2nd. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada set a $178.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. Seaport Global Securities downgraded Concho Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $163.00 to $100.00 in a research note on Wednesday, June 21st. Finally, BidaskClub downgraded Concho Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $148.53.
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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