Nisa Investment Advisors LLC decreased its holdings in shares of Concho Resources Inc (NYSE:CXO) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,880 shares of the oil and natural gas company’s stock after selling 695 shares during the period. Nisa Investment Advisors LLC’s holdings in Concho Resources were worth $2,877,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Boston Partners acquired a new position in shares of Concho Resources in the first quarter valued at $65,541,000. State of Tennessee Treasury Department raised its stake in shares of Concho Resources by 836.9% in the first quarter. State of Tennessee Treasury Department now owns 486,192 shares of the oil and natural gas company’s stock valued at $53,948,000 after purchasing an additional 434,299 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Concho Resources by 20.1% in the first quarter. American Century Companies Inc. now owns 2,465,573 shares of the oil and natural gas company’s stock valued at $273,580,000 after purchasing an additional 412,726 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Concho Resources by 58.6% in the fourth quarter. Deutsche Bank AG now owns 669,228 shares of the oil and natural gas company’s stock valued at $68,781,000 after purchasing an additional 247,290 shares in the last quarter. Finally, Hexavest Inc. raised its stake in shares of Concho Resources by 157.3% in the second quarter. Hexavest Inc. now owns 373,955 shares of the oil and natural gas company’s stock valued at $38,585,000 after purchasing an additional 228,639 shares in the last quarter. 94.29% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on CXO shares. SunTrust Banks dropped their price objective on Concho Resources to $100.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Co dropped their price objective on Concho Resources from $128.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Morgan Stanley lowered Concho Resources from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $131.00 to $64.00 in a research note on Tuesday, August 6th. Stifel Nicolaus set a $188.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America lowered their target price on Concho Resources from $145.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Concho Resources has an average rating of “Buy” and a consensus price target of $145.42.
Shares of CXO opened at $69.96 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. Concho Resources Inc has a 1 year low of $63.92 and a 1 year high of $160.81. The stock has a market cap of $14.54 billion, a P/E ratio of 15.24 and a beta of 1.15. The stock’s 50-day moving average price is $86.83 and its two-hundred day moving average price is $103.01.
Concho Resources (NYSE:CXO) last issued its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Concho Resources had a return on equity of 4.12% and a net margin of 11.63%. Concho Resources’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. As a group, equities analysts forecast that Concho Resources Inc will post 3.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 9th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, August 8th. Concho Resources’s dividend payout ratio is currently 10.89%.
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.
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