Daiwa Securities Group Inc. increased its position in shares of Concho Resources Inc. (NYSE:CXO) by 11.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,464 shares of the oil and natural gas company’s stock after buying an additional 464 shares during the period. Daiwa Securities Group Inc.’s holdings in Concho Resources were worth $588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Concho Resources by 135.2% in the first quarter. AQR Capital Management LLC now owns 11,433 shares of the oil and natural gas company’s stock valued at $1,467,000 after purchasing an additional 6,573 shares in the last quarter. HighTower Advisors LLC increased its stake in Concho Resources by 16.1% in the first quarter. HighTower Advisors LLC now owns 2,398 shares of the oil and natural gas company’s stock valued at $308,000 after purchasing an additional 332 shares in the last quarter. Capstone Asset Management Co. increased its stake in Concho Resources by 3.0% in the second quarter. Capstone Asset Management Co. now owns 9,903 shares of the oil and natural gas company’s stock valued at $1,204,000 after purchasing an additional 290 shares in the last quarter. Bank of Montreal Can increased its stake in Concho Resources by 2.6% in the second quarter. Bank of Montreal Can now owns 63,828 shares of the oil and natural gas company’s stock valued at $7,756,000 after purchasing an additional 1,625 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 200 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

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CXO has been the subject of several research analyst reports. Royal Bank Of Canada set a $158.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, August 24th. Barclays PLC lifted their price target on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Cowen and Company reaffirmed a “hold” rating and issued a $145.00 price target on shares of Concho Resources in a research note on Sunday, October 22nd. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, October 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $109.00 price target (down from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Concho Resources presently has an average rating of “Buy” and a consensus target price of $151.35.

Concho Resources Inc. (NYSE:CXO) opened at $142.41 on Tuesday. Concho Resources Inc. has a twelve month low of $106.73 and a twelve month high of $147.77. The firm has a market cap of $21,294.76, a PE ratio of 86.27 and a beta of 1.09. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. analysts predict that Concho Resources Inc. will post 1.79 EPS for the current year.

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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