Oregon Public Employees Retirement Fund Purchases 319 Shares of Concho Resources Inc (NYSE:CXO)

Oregon Public Employees Retirement Fund boosted its position in Concho Resources Inc (NYSE:CXO) by 1.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,321 shares of the oil and natural gas company’s stock after purchasing an additional 319 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Concho Resources were worth $2,200,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First Hawaiian Bank grew its position in shares of Concho Resources by 2,400.0% during the 1st quarter. First Hawaiian Bank now owns 250 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 240 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Concho Resources during the 1st quarter valued at approximately $50,000. Icon Wealth Partners LLC bought a new position in shares of Concho Resources during the 1st quarter valued at approximately $57,000. Cullen Frost Bankers Inc. bought a new position in shares of Concho Resources during the 1st quarter valued at approximately $76,000. Finally, Manchester Capital Management LLC bought a new position in shares of Concho Resources during the 1st quarter valued at approximately $80,000. 94.60% of the stock is owned by institutional investors and hedge funds.

NYSE CXO traded down $3.12 on Friday, hitting $72.85. The stock had a trading volume of 8,016,589 shares, compared to its average volume of 1,336,263. Concho Resources Inc has a 52-week low of $72.76 and a 52-week high of $160.81. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $14.61 billion, a P/E ratio of 15.87 and a beta of 1.15. The business has a 50-day moving average of $99.90.

Concho Resources (NYSE:CXO) last posted 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 Thomson Reuters’ consensus estimate of $0.74 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Concho Resources had a return on equity of 4.11% and a net margin of 11.63%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Equities research analysts expect that Concho Resources Inc will post 3.62 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 given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 8th. Concho Resources’s dividend payout ratio (DPR) is currently 10.89%.

CXO has been the subject of a number of research reports. KeyCorp increased their target price on shares of Concho Resources from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Citigroup began coverage on shares of Concho Resources in a research report on Tuesday, April 9th. They set a “buy” rating and a $112.00 target price for the company. TD Securities dropped their price target on shares of Concho Resources from $115.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday. Bank of America dropped their price target on shares of Concho Resources from $145.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Susquehanna Bancshares dropped their price target on shares of Concho Resources from $150.00 to $143.00 and set a “positive” rating on the stock in a research note on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $153.56.

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

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