Rhumbline Advisers Has $34.16 Million Holdings in Concho Resources Inc. (CXO)
Rhumbline Advisers boosted its holdings in Concho Resources Inc. (NYSE:CXO) by 1.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 259,300 shares of the oil and natural gas company’s stock after buying an additional 4,620 shares during the period. Rhumbline Advisers owned 0.17% of Concho Resources worth $34,155,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Strategy Asset Managers LLC purchased a new stake in Concho Resources in the 3rd quarter worth $2,797,000. Toronto Dominion Bank increased its stake in Concho Resources by 12.4% in the 3rd quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock worth $7,428,000 after buying an additional 6,206 shares in the last quarter. Kingfisher Capital LLC purchased a new stake in Concho Resources in the 3rd quarter worth $862,000. Candriam Luxembourg S.C.A. increased its stake in Concho Resources by 183.7% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 33,030 shares of the oil and natural gas company’s stock worth $4,351,000 after buying an additional 21,387 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Concho Resources by 57.9% in the 3rd quarter. Bessemer Group Inc. now owns 48,731 shares of the oil and natural gas company’s stock worth $6,419,000 after buying an additional 17,873 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
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CXO has been the subject of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $109.00 price target (down previously from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. Citigroup Inc. dropped their price objective on shares of Concho Resources from $166.00 to $151.00 and set a “buy” rating for the company in a report on Friday, July 21st. KeyCorp set a $150.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, October 19th. Barclays PLC increased their price objective on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley increased their price objective on shares of Concho Resources from $152.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Concho Resources presently has a consensus rating of “Buy” and a consensus price target of $151.35.
Shares of Concho Resources Inc. (NYSE CXO) opened at $139.56 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $20,750.00, a PE ratio of 83.23 and a beta of 1.09. Concho Resources Inc. has a 12 month low of $106.73 and a 12 month high of $147.77.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. equities analysts forecast that Concho Resources Inc. will post 1.79 EPS for the current year.
Concho Resources Company Profile
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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