Robeco Institutional Asset Management B.V. Has $4.80 Million Position in Concho Resources (CXO)

Robeco Institutional Asset Management B.V. increased its position in shares of Concho Resources (NYSE:CXO) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,911 shares of the oil and natural gas company’s stock after purchasing an additional 6,429 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Concho Resources were worth $4,798,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in Concho Resources during the fourth quarter worth about $1,032,000. Amundi Pioneer Asset Management Inc. boosted its holdings in Concho Resources by 250.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 235,851 shares of the oil and natural gas company’s stock worth $35,430,000 after purchasing an additional 168,551 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Concho Resources by 150.4% during the fourth quarter. Shell Asset Management Co. now owns 44,401 shares of the oil and natural gas company’s stock worth $6,670,000 after purchasing an additional 26,671 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Concho Resources by 2.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 419,734 shares of the oil and natural gas company’s stock worth $63,052,000 after purchasing an additional 10,112 shares during the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in Concho Resources during the fourth quarter worth about $426,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

Concho Resources opened at $153.49 on Monday, according to MarketBeat.com. Concho Resources has a 12-month low of $106.73 and a 12-month high of $163.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 0.65. The company has a market capitalization of $22.88 billion, a PE ratio of 58.36 and a beta of 0.99.

Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, May 1st. The oil and natural gas company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. Concho Resources had a net margin of 39.06% and a return on equity of 4.34%. The company had revenue of $947.00 million for the quarter, compared to analyst estimates of $808.60 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 54.7% compared to the same quarter last year. research analysts predict that Concho Resources will post 4.82 earnings per share for the current fiscal year.

Several research firms recently weighed in on CXO. ValuEngine cut shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase set a $180.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Credit Suisse Group lifted their price objective on shares of Concho Resources from $164.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus set a $196.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, TheStreet raised shares of Concho Resources from a “c+” rating to a “b-” rating in a research report on Tuesday, February 20th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $172.41.

About Concho Resources

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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