Engineers Gate Manager LP reduced its holdings in shares of Concho Resources Inc (NYSE:CXO) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,879 shares of the oil and natural gas company’s stock after selling 2,037 shares during the quarter. Engineers Gate Manager LP’s holdings in Concho Resources were worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Concho Resources by 12.4% during the third quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock valued at $7,428,000 after buying an additional 6,206 shares during the last quarter. Texas Capital Bancshares Inc. TX grew its holdings in shares of Concho Resources by 5.5% during the third quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock valued at $958,000 after buying an additional 380 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Concho Resources by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock valued at $31,851,000 after buying an additional 1,440 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Concho Resources by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock valued at $47,654,000 after buying an additional 36,662 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in shares of Concho Resources by 3.0% during the third quarter. Channing Capital Management LLC now owns 94,544 shares of the oil and natural gas company’s stock valued at $12,453,000 after buying an additional 2,771 shares during the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.

A number of research analysts have recently issued reports on CXO shares. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a report on Monday, October 16th. Morgan Stanley lifted 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. 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. Cowen reiterated a “hold” rating and set a $145.00 price objective on shares of Concho Resources in a report on Sunday, October 22nd. Finally, SunTrust Banks set a $145.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Tuesday, October 31st. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $168.55.

Concho Resources Inc (CXO) opened at $138.98 on Monday. 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 Inc has a 12-month low of $106.73 and a 12-month high of $162.91. The firm has a market cap of $20,665.77, a PE ratio of 36.96 and a beta of 1.00.

In other Concho Resources news, Chairman Timothy A. Leach sold 40,000 shares of Concho Resources stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total value of $5,925,600.00. Following the sale, the chairman now owns 737,837 shares of the company’s stock, valued at $109,303,173.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP E Joseph Wright sold 83,759 shares of Concho Resources stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the sale, the vice president now directly owns 159,268 shares in the company, valued at approximately $23,614,666.36. The disclosure for this sale can be found here. Insiders have sold 127,759 shares of company stock worth $18,948,027 over the last three months. 0.99% of the stock is owned by insiders.

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

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