Credit Agricole S A Has $192,000 Holdings in Concho Resources Inc (CXO)
Credit Agricole S A lessened its stake in Concho Resources Inc (NYSE:CXO) by 99.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,276 shares of the oil and natural gas company’s stock after selling 251,899 shares during the quarter. Credit Agricole S A’s holdings in Concho Resources were worth $192,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in Concho Resources by 325.2% in the 4th quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock worth $137,000 after acquiring an additional 696 shares during the period. ING Groep NV purchased a new position in Concho Resources in the 4th quarter worth approximately $201,000. Commonwealth Equity Services Inc purchased a new position in Concho Resources in the 3rd quarter worth approximately $206,000. Park Avenue Securities LLC purchased a new position in shares of Concho Resources during the 4th quarter valued at approximately $208,000. Finally, Greylin Investment Mangement Inc. purchased a new position in shares of Concho Resources during the 4th quarter valued at approximately $225,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.
Shares of Concho Resources Inc (NYSE CXO) opened at $150.57 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.51. The stock has a market capitalization of $22,445.15, a P/E ratio of 71.02, a P/E/G ratio of 0.91 and a beta of 1.01. Concho Resources Inc has a 52-week low of $106.73 and a 52-week high of $162.91.
Several equities analysts have recently commented on CXO shares. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Monday, November 6th. Barclays increased their target price on Concho Resources from $144.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Scotiabank set a $145.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Credit Suisse Group started coverage on Concho Resources in a research note on Monday, December 11th. They set a “neutral” rating and a $136.00 target price for the company. Finally, Jefferies Group set a $173.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Wednesday, December 20th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $168.79.
In related news, VP E Joseph Wright sold 83,759 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at approximately $23,614,666.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 737,837 shares in the company, valued at $109,303,173.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,759 shares of company stock worth $18,948,027. Corporate insiders own 0.99% of the company’s stock.
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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