Federated Investors Inc. PA lowered its stake in shares of Concho Resources Inc (NYSE:CXO) by 29.5% during the first quarter, Holdings Channel reports. The institutional investor owned 8,367 shares of the oil and natural gas company’s stock after selling 3,501 shares during the quarter. Federated Investors Inc. PA’s holdings in Concho Resources were worth $1,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Concho Resources by 1.6% during the first quarter. BlackRock Inc. now owns 9,902,069 shares of the oil and natural gas company’s stock worth $1,488,577,000 after buying an additional 152,112 shares during the last quarter. Geode Capital Management LLC boosted its stake in Concho Resources by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 1,568,279 shares of the oil and natural gas company’s stock worth $235,092,000 after buying an additional 51,345 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Concho Resources by 26.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 755,029 shares of the oil and natural gas company’s stock worth $113,503,000 after buying an additional 156,769 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Concho Resources by 2.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 531,221 shares of the oil and natural gas company’s stock worth $79,859,000 after buying an additional 13,354 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Concho Resources by 10.0% during the fourth quarter. Alliancebernstein L.P. now owns 487,433 shares of the oil and natural gas company’s stock worth $73,222,000 after buying an additional 44,230 shares during the last quarter. 97.16% of the stock is currently owned by institutional investors.

CXO stock opened at $133.86 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $19.32 billion, a P/E ratio of 64.05 and a beta of 0.96. Concho Resources Inc has a 12-month low of $106.73 and a 12-month high of $163.11.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, May 1st. The oil and natural gas company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19. The firm had revenue of $947.00 million for the quarter, compared to the consensus estimate of $808.60 million. Concho Resources had a return on equity of 4.34% and a net margin of 39.06%. The company’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts expect that Concho Resources Inc will post 4.43 EPS for the current year.

A number of research firms have commented on CXO. TheStreet upgraded Concho Resources from a “c+” rating to a “b-” rating in a research report on Tuesday, February 20th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Concho Resources in a research report on Wednesday, February 21st. Jefferies Financial Group set a $190.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Tuesday, February 27th. UBS Group began coverage on Concho Resources in a research report on Wednesday, March 7th. They issued a “buy” rating and a $180.00 target price on the stock. Finally, Stephens restated a “buy” rating and issued a $205.00 target price on shares of Concho Resources in a research report on Thursday, March 15th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $169.82.

About Concho Resources

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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