Israel Discount Bank of New York raised its stake in shares of Concho Resources Inc. (NYSE:CXO) by 32.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 825 shares of the oil and natural gas company’s stock after purchasing an additional 200 shares during the period. Israel Discount Bank of New York’s holdings in Concho Resources were worth $100,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Balentine LLC grew its holdings in Concho Resources by 176.7% during the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after purchasing an additional 530 shares during the last quarter. Exane Derivatives grew its holdings in Concho Resources by 247.2% during the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after purchasing an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. grew its holdings in Concho Resources by 22.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 200 shares during the last quarter. Twin Tree Management LP acquired a new position in Concho Resources during the second quarter valued at approximately $137,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Concho Resources during the first quarter valued at approximately $174,000. Institutional investors own 92.41% of the company’s stock.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the transaction, the vice president now directly owns 132,388 shares of the company’s stock, valued at approximately $15,203,437.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.
Shares of Concho Resources Inc. (NYSE:CXO) traded up 0.70% on Monday, reaching $112.85. The company had a trading volume of 91,542 shares. Concho Resources Inc. has a 52-week low of $106.73 and a 52-week high of $147.55. The company’s 50-day moving average price is $116.72 and its 200-day moving average price is $124.43. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 26.19 and a beta of 1.12.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The firm had revenue of $567 million for the quarter, compared to analyst estimates of $626.09 million. During the same period in the prior year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, analysts predict that Concho Resources Inc. will post $1.62 earnings per share for the current year.
Several equities analysts have commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $180.00 price target on shares of Concho Resources in a report on Monday, May 15th. Jefferies Group LLC set a $140.00 price target on Concho Resources and gave the company a “hold” rating in a report on Wednesday, May 17th. Piper Jaffray Companies reiterated an “overweight” rating and set a $172.00 price target (up previously from $171.00) on shares of Concho Resources in a report on Wednesday, May 17th. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group set a $164.00 price target on Concho Resources and gave the company a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Concho Resources currently has a consensus rating of “Hold” and an average target price of $148.53.
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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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