Concho Resources Inc (NYSE:CXO) Holdings Trimmed by Brown Advisory Inc.

Brown Advisory Inc. reduced its stake in Concho Resources Inc (NYSE:CXO) by 76.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,744 shares of the oil and natural gas company’s stock after selling 22,310 shares during the period. Brown Advisory Inc.’s holdings in Concho Resources were worth $693,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ropes Wealth Advisors LLC purchased a new position in shares of Concho Resources in the fourth quarter valued at $28,000. Rehmann Capital Advisory Group grew its holdings in Concho Resources by 108.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 219 shares of the oil and natural gas company’s stock valued at $33,000 after buying an additional 114 shares during the period. Massey Quick Simon & CO. LLC purchased a new stake in Concho Resources in the 4th quarter valued at about $49,000. Exane Asset Management purchased a new stake in Concho Resources in the 4th quarter valued at about $65,000. Finally, Caz Investments LP purchased a new stake in Concho Resources in the 4th quarter valued at about $103,000. Institutional investors own 94.65% of the company’s stock.

Shares of Concho Resources stock traded up $1.55 during trading on Monday, hitting $115.44. The stock had a trading volume of 2,373,235 shares, compared to its average volume of 1,996,426. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.11. Concho Resources Inc has a fifty-two week low of $93.31 and a fifty-two week high of $163.11.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, February 19th. The oil and natural gas company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.16). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.16 billion. Concho Resources had a net margin of 55.07% and a return on equity of 5.69%. The company’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. Analysts anticipate that Concho Resources Inc will post 4.45 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, February 28th. Concho Resources’s dividend payout ratio is 10.89%.

CXO has been the topic of several research analyst reports. ValuEngine lowered Concho Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Raymond James set a $185.00 price objective on Concho Resources and gave the company a “buy cxo” rating in a research note on Monday, December 24th. TheStreet raised Concho Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 19th. Williams Capital reaffirmed a “buy” rating and issued a $182.00 price objective on shares of Concho Resources in a research note on Monday, February 11th. Finally, Morgan Stanley set a $154.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Concho Resources has a consensus rating of “Buy” and a consensus price target of $164.52.

In other Concho Resources news, Director Gary A. Merriman purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were purchased at an average cost of $111.51 per share, with a total value of $223,020.00. Following the completion of the transaction, the director now owns 19,727 shares of the company’s stock, valued at $2,199,757.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Kidwell sold 4,200 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $110.02, for a total value of $462,084.00. Following the completion of the transaction, the senior vice president now directly owns 7,628 shares in the company, valued at $839,232.56. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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Concho Resources Profile

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, 2018, its estimated proved reserves totaled 1.2 billion barrels of oil equivalent.

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

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