Concho Resources Inc (NYSE:CXO) Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in shares of Concho Resources Inc (NYSE:CXO) by 7.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 322,366 shares of the oil and natural gas company’s stock after selling 25,311 shares during the period. Strs Ohio’s holdings in Concho Resources were worth $33,261,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CXO. Louisiana State Employees Retirement System increased its position in shares of Concho Resources by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the oil and natural gas company’s stock worth $1,176,000 after purchasing an additional 100 shares in the last quarter. Confluence Investment Management LLC increased its position in shares of Concho Resources by 5.1% during the second quarter. Confluence Investment Management LLC now owns 2,293 shares of the oil and natural gas company’s stock worth $237,000 after purchasing an additional 111 shares in the last quarter. Securian Asset Management Inc increased its position in shares of Concho Resources by 0.7% during the first quarter. Securian Asset Management Inc now owns 20,711 shares of the oil and natural gas company’s stock worth $2,298,000 after purchasing an additional 152 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Concho Resources by 3.1% during the first quarter. Chartwell Investment Partners LLC now owns 5,574 shares of the oil and natural gas company’s stock worth $618,000 after purchasing an additional 170 shares in the last quarter. Finally, Sanders Morris Harris LLC increased its position in shares of Concho Resources by 3.2% during the second quarter. Sanders Morris Harris LLC now owns 6,871 shares of the oil and natural gas company’s stock worth $709,000 after purchasing an additional 215 shares in the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on the company. Williams Capital reiterated a “buy” rating and set a $155.00 price target (down from $171.00) on shares of Concho Resources in a research report on Thursday, August 1st. SunTrust Banks dropped their price target on Concho Resources to $100.00 and set a “buy” rating for the company in a research report on Friday. Credit Suisse Group dropped their price target on Concho Resources from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Barclays boosted their price target on Concho Resources from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley cut Concho Resources from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $131.00 to $64.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $150.88.

NYSE:CXO traded down $2.52 during trading hours on Tuesday, hitting $67.71. The company had a trading volume of 2,123,305 shares, compared to its average volume of 2,578,387. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $98.34. The firm has a market capitalization of $13.97 billion, a P/E ratio of 14.75 and a beta of 1.15. Concho Resources Inc has a 1 year low of $69.65 and a 1 year high of $160.81.

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 Thomson Reuters’ consensus estimate of $0.74 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Concho Resources had a net margin of 11.63% and a return on equity of 4.12%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, equities analysts expect that Concho Resources Inc will post 3.59 earnings per share 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 issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, August 8th. Concho Resources’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for Concho Resources (NYSE:CXO)

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