Enlightenment Research LLC Takes Position in Concho Resources Inc (NYSE:CXO)

Enlightenment Research LLC acquired a new stake in Concho Resources Inc (NYSE:CXO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,600 shares of the oil and natural gas company’s stock, valued at approximately $877,000.

Several other large investors also recently added to or reduced their stakes in CXO. Geode Capital Management LLC lifted its stake in shares of Concho Resources by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock valued at $261,459,000 after purchasing an additional 181,294 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Concho Resources by 0.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 28,575 shares of the oil and natural gas company’s stock valued at $3,171,000 after purchasing an additional 260 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Concho Resources in the 1st quarter valued at $211,000. CWM LLC lifted its stake in shares of Concho Resources by 4,976.1% in the 1st quarter. CWM LLC now owns 6,802 shares of the oil and natural gas company’s stock valued at $755,000 after purchasing an additional 6,668 shares during the last quarter. Finally, Conning Inc. lifted its stake in shares of Concho Resources by 11.0% in the 1st quarter. Conning Inc. now owns 3,640 shares of the oil and natural gas company’s stock valued at $404,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 94.29% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Concho Resources from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Johnson Rice downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Susquehanna Bancshares dropped their target price on shares of Concho Resources from $150.00 to $143.00 and set a “positive” rating on the stock in a report on Wednesday, June 19th. Williams Capital reiterated a “buy” rating and issued a $155.00 target price (down previously from $171.00) on shares of Concho Resources in a report on Thursday, August 1st. Finally, Raymond James dropped their target price on shares of Concho Resources from $150.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Concho Resources presently has an average rating of “Buy” and an average target price of $147.13.

In other Concho Resources news, President Jack F. Harper bought 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $65.40 per share, with a total value of $654,000.00. Following the completion of the purchase, the president now directly owns 170,605 shares in the company, valued at approximately $11,157,567. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brenda R. Schroer bought 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $69.67 per share, for a total transaction of $104,505.00. Following the purchase, the chief financial officer now owns 35,137 shares of the company’s stock, valued at $2,447,994.79. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 16,200 shares of company stock worth $1,084,349. Insiders own 1.10% of the company’s stock.

NYSE:CXO opened at $72.33 on Wednesday. The firm’s 50-day moving average is $88.43 and its 200-day moving average is $103.72. Concho Resources Inc has a 52-week low of $63.92 and a 52-week high of $160.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.61. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 15.76 and a beta of 1.15.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.05). Concho Resources had a return on equity of 4.12% and a net margin of 11.63%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts predict that Concho Resources Inc will post 3.28 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.50 annualized dividend and a dividend yield of 0.69%. Concho Resources’s payout ratio is 10.89%.

Concho Resources Profile

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.

Recommended Story: Outstanding Shares

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.