Laurion Capital Management LP acquired a new stake in shares of Concho Resources Inc (NYSE:CXO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,260 shares of the oil and natural gas company’s stock, valued at approximately $1,419,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Concho Resources during the second quarter valued at approximately $166,000. First Allied Advisory Services Inc. bought a new position in shares of Concho Resources during the first quarter valued at approximately $202,000. KC Investment Advisors LLC bought a new position in shares of Concho Resources during the second quarter valued at approximately $204,000. Cornerstone Wealth Management LLC bought a new position in shares of Concho Resources during the second quarter valued at approximately $232,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Concho Resources during the second quarter valued at approximately $242,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

A number of equities analysts have recently issued reports on CXO shares. Williams Capital started coverage on shares of Concho Resources in a research note on Monday, June 18th. They set a “buy” rating and a $178.00 price objective on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $220.00 price objective on shares of Concho Resources in a research note on Friday, July 20th. Goldman Sachs Group upgraded shares of Concho Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 18th. ValuEngine upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a research note on Monday, July 16th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $200.00 price objective on shares of Concho Resources in a research note on Friday, July 13th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $176.00.

In related news, Director Mark B. Puckett purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was acquired at an average price of $134.39 per share, with a total value of $268,780.00. Following the completion of the acquisition, the director now owns 28,535 shares in the company, valued at approximately $3,834,818.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven L. Beal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $137.24, for a total transaction of $343,100.00. Following the completion of the transaction, the director now directly owns 75,548 shares of the company’s stock, valued at approximately $10,368,207.52. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Shares of CXO opened at $140.21 on Thursday. The company has a market capitalization of $27.35 billion, a price-to-earnings ratio of 40.76 and a beta of 1.00. Concho Resources Inc has a twelve month low of $115.49 and a twelve month high of $163.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.76 and a quick ratio of 0.75.

Concho Resources (NYSE:CXO) last announced its earnings results on Wednesday, August 1st. The oil and natural gas company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.32. The company had revenue of $945.00 million during the quarter, compared to the consensus estimate of $906.82 million. Concho Resources had a net margin of 34.13% and a return on equity of 5.37%. Concho Resources’s revenue was up 66.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. equities analysts predict that Concho Resources Inc will post 4.47 earnings per share for the current fiscal year.

Concho Resources Profile

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.

Further Reading: Outstanding Shares

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

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