Geode Capital Management LLC Has $187.48 Million Stake in Concho Resources Inc. (CXO)

Geode Capital Management LLC increased its stake in shares of Concho Resources Inc. (NYSE:CXO) by 11.5% during the first quarter, Holdings Channel reports. The firm owned 1,462,862 shares of the oil and natural gas company’s stock after buying an additional 150,364 shares during the period. Geode Capital Management LLC’s holdings in Concho Resources were worth $187,480,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in shares of Concho Resources during the fourth quarter valued at approximately $106,000. Balentine LLC boosted its stake in shares of Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 530 shares during the period. Intellectus Partners LLC bought a new stake in shares of Concho Resources during the fourth quarter valued at approximately $133,000. Boothbay Fund Management LLC boosted its stake in shares of Concho Resources by 4.3% in the fourth quarter. Boothbay Fund Management LLC now owns 1,525 shares of the oil and natural gas company’s stock valued at $202,000 after buying an additional 63 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of Concho Resources during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

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

Concho Resources Inc. (NYSE CXO) traded down 0.340% during midday trading on Tuesday, reaching $115.835. 824,965 shares of the company were exchanged. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 79.721 and a beta of 1.03. Concho Resources Inc. has a 52-week low of $112.73 and a 52-week high of $147.55. The firm’s 50-day moving average price is $127.20 and its 200 day moving average price is $132.59.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The company had revenue of $612 million during the quarter, compared to analyst estimates of $607.71 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business’s quarterly revenue was up 115.5% on a year-over-year basis. Equities analysts predict that Concho Resources Inc. will post $1.64 earnings per share for the current year.

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Several analysts recently commented on the stock. Credit Suisse Group set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday, May 6th. Royal Bank Of Canada set a $178.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday. Piper Jaffray Companies restated an “overweight” rating and set a $172.00 target price (up previously from $171.00) on shares of Concho Resources in a research report on Wednesday, May 17th. KLR Group restated a “buy” rating and set a $189.00 target price (up previously from $176.00) on shares of Concho Resources in a research report on Wednesday, February 22nd. Finally, ValuEngine upgraded shares of Concho Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $163.11.

In other news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is currently owned by corporate insiders.

Concho Resources Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CXO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding CXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Concho Resources Inc. (NYSE:CXO).

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