Oregon Public Employees Retirement Fund lessened its stake in shares of Concho Resources Inc (NYSE:CXO) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,002 shares of the oil and natural gas company’s stock after selling 2,319 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Concho Resources were worth $2,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in Concho Resources by 34.6% during the 3rd quarter. Vanguard Group Inc now owns 20,946,532 shares of the oil and natural gas company’s stock valued at $3,199,583,000 after acquiring an additional 5,380,400 shares during the period. Virtu Financial LLC purchased a new stake in shares of Concho Resources in the 4th quarter worth $285,000. Assenagon Asset Management S.A. purchased a new stake in shares of Concho Resources in the 4th quarter worth $1,595,000. IFM Investors Pty Ltd lifted its holdings in shares of Concho Resources by 9.9% in the 4th quarter. IFM Investors Pty Ltd now owns 11,521 shares of the oil and natural gas company’s stock worth $1,184,000 after buying an additional 1,037 shares during the period. Finally, Calamos Advisors LLC lifted its holdings in shares of Concho Resources by 17.6% in the 4th quarter. Calamos Advisors LLC now owns 73,982 shares of the oil and natural gas company’s stock worth $7,605,000 after buying an additional 11,078 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.

In other Concho Resources news, Director Gary A. Merriman bought 2,000 shares of Concho Resources stock in a transaction that occurred on Wednesday, February 27th. The shares were bought at an average cost of $111.51 per share, with a total value of $223,020.00. Following the transaction, the director now directly owns 19,727 shares of the company’s stock, valued at approximately $2,199,757.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven L. Beal sold 7,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $99.90, for a total value of $749,250.00. Following the transaction, the director now directly owns 69,096 shares in the company, valued at $6,902,690.40. The disclosure for this sale can be found here. Insiders have sold a total of 77,745 shares of company stock worth $8,532,784 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on CXO. KeyCorp upped their target price on Concho Resources from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. ValuEngine cut Concho Resources from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Ifs Securities reiterated a “strong-buy” rating on shares of Concho Resources in a report on Sunday, February 3rd. Morgan Stanley set a $154.00 target price on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Mizuho began coverage on Concho Resources in a report on Tuesday, January 29th. They issued a “buy” rating and a $156.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus price target of $165.32.

Shares of NYSE CXO opened at $101.23 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market cap of $20.31 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.90 and a beta of 1.11. Concho Resources Inc has a 1-year low of $93.31 and a 1-year high of $160.81.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Concho Resources had a net margin of 17.55% and a return on equity of 4.92%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Concho Resources Inc will post 4.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 10th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, May 9th. Concho Resources’s dividend payout ratio is currently 10.89%.

ILLEGAL ACTIVITY WARNING: This report was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.dailypolitical.com/2019/05/25/concho-resources-inc-cxo-shares-sold-by-oregon-public-employees-retirement-fund.html.

About Concho Resources

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

Read More: Put Option Volume

Want to see what other hedge funds are holding CXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Concho Resources Inc (NYSE:CXO).

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

Receive News & Ratings for Concho Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources and related companies with MarketBeat.com's FREE daily email newsletter.