Concho Resources Inc. (CXO) Stake Decreased by Engineers Gate Manager LP
Engineers Gate Manager LP decreased its position in shares of Concho Resources Inc. (NYSE:CXO) by 19.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,916 shares of the oil and natural gas company’s stock after selling 1,943 shares during the period. Engineers Gate Manager LP’s holdings in Concho Resources were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Israel Discount Bank of New York increased its holdings in shares of Concho Resources by 32.0% during the second quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Concho Resources by 10,850.0% during the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock worth $133,000 after buying an additional 1,085 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Concho Resources during the second quarter worth approximately $137,000. C M Bidwell & Associates Ltd. increased its holdings in shares of Concho Resources by 1.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after buying an additional 20 shares in the last quarter. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Concho Resources during the third quarter worth approximately $206,000. 94.55% of the stock is owned by institutional investors.
Shares of Concho Resources Inc. (NYSE CXO) opened at $138.29 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The firm has a market cap of $20,743.09, a P/E ratio of 84.04 and a beta of 1.09. Concho Resources Inc. has a fifty-two week low of $106.73 and a fifty-two week high of $147.77.
Concho Resources (NYSE:CXO) last released its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. During the same quarter in the previous year, the business earned $0.32 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. research analysts expect that Concho Resources Inc. will post 1.82 EPS for the current year.
Several research firms have recently weighed in on CXO. Royal Bank of Canada reaffirmed a “buy” rating and set a $158.00 price objective on shares of Concho Resources in a report on Friday, September 29th. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Credit Suisse Group began coverage on shares of Concho Resources in a report on Monday. They set a “neutral” rating and a $136.00 price objective for the company. Piper Jaffray Companies dropped their price objective on shares of Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, Stifel Nicolaus set a $185.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 5th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $152.42.
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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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