Barings LLC Has $273,000 Stake in Concho Resources Inc (NYSE:CXO)

Barings LLC lowered its position in Concho Resources Inc (NYSE:CXO) by 67.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,073 shares of the oil and natural gas company’s stock after selling 4,290 shares during the quarter. Barings LLC’s holdings in Concho Resources were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Israel Discount Bank of New York lifted its position in shares of Concho Resources by 32.0% in the second quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Concho Resources by 10,850.0% in the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock worth $133,000 after buying an additional 1,085 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of Concho Resources in the second quarter worth about $137,000. C M Bidwell & Associates Ltd. lifted its position in shares of Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after buying an additional 20 shares during the last quarter. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Concho Resources in the third quarter worth about $206,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.

Concho Resources Inc (NYSE:CXO) traded down $1.11 during midday trading on Friday, hitting $150.22. The company had a trading volume of 888,934 shares, compared to its average volume of 1,009,083. Concho Resources Inc has a fifty-two week low of $106.73 and a fifty-two week high of $155.05. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The firm has a market cap of $22,502.17, a PE ratio of 39.95 and a beta of 1.09.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The firm’s revenue was up 45.8% compared to the same quarter last year. sell-side analysts predict that Concho Resources Inc will post 1.85 earnings per share for the current fiscal year.

A number of analysts have weighed in on CXO shares. Jefferies Group raised Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Monday, October 9th. Credit Suisse Group started coverage on Concho Resources in a research report on Monday, December 11th. They issued a “neutral” rating and a $136.00 price target for the company. KeyCorp set a $150.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 19th. Barclays boosted their price target on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Finally, Morgan Stanley boosted their price target on Concho Resources from $152.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $151.63.

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About Concho Resources

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.

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

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