Virginia Retirement Systems ET AL Sells 1,326 Shares of Concho Resources Inc. (CXO)

Virginia Retirement Systems ET AL trimmed its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,842 shares of the oil and natural gas company’s stock after selling 1,326 shares during the period. Virginia Retirement Systems ET AL’s holdings in Concho Resources were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. C M Bidwell & Associates Ltd. grew its holdings in Concho Resources by 1.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after acquiring an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Concho Resources by 1.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after buying an additional 35 shares in the last quarter. Cadence Capital Management LLC boosted its holdings in shares of Concho Resources by 0.9% in the 2nd quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock valued at $639,000 after buying an additional 48 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Concho Resources by 2.5% in the 2nd quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock valued at $304,000 after buying an additional 60 shares in the last quarter. Finally, Symphony Asset Management LLC boosted its holdings in shares of Concho Resources by 2.5% in the 2nd quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock valued at $341,000 after buying an additional 69 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.

A number of analysts have recently weighed in on the stock. Scotiabank set a $145.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Saturday, November 25th. Barclays raised their price target on shares of Concho Resources from $144.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Monday, November 6th. SunTrust Banks set a $145.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, Cowen restated a “hold” rating and issued a $145.00 price target on shares of Concho Resources in a report on Sunday, October 22nd. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Concho Resources currently has an average rating of “Buy” and a consensus price target of $153.89.

Concho Resources Inc. (NYSE CXO) opened at $139.19 on Tuesday. The company has a market cap of $21,034.54, a P/E ratio of 85.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. Concho Resources Inc. has a 1 year low of $106.73 and a 1 year high of $147.77.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. Concho Resources’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. research analysts anticipate that Concho Resources Inc. will post 1.82 earnings per share for the current fiscal year.

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

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