Exxonmobil Investment Management Inc. TX Sells 3,511 Shares of Concho Resources Inc (CXO)

Exxonmobil Investment Management Inc. TX reduced its holdings in Concho Resources Inc (NYSE:CXO) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 23,646 shares of the oil and natural gas company’s stock after selling 3,511 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Concho Resources were worth $3,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Concho Resources by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock valued at $1,839,892,000 after purchasing an additional 454,428 shares during the last quarter. Capital World Investors boosted its stake in shares of Concho Resources by 10.6% in the 2nd quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock valued at $1,311,613,000 after purchasing an additional 1,034,000 shares during the last quarter. State Street Corp boosted its stake in shares of Concho Resources by 0.3% in the 2nd quarter. State Street Corp now owns 7,893,306 shares of the oil and natural gas company’s stock valued at $959,272,000 after purchasing an additional 20,760 shares during the last quarter. Carmignac Gestion boosted its stake in shares of Concho Resources by 7.6% in the 3rd quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after purchasing an additional 189,251 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Concho Resources by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,377,303 shares of the oil and natural gas company’s stock valued at $288,914,000 after purchasing an additional 71,910 shares during the last quarter. Hedge funds and other institutional investors own 94.47% of the company’s stock.

In related news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the transaction, the director now directly owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is owned by corporate insiders.

A number of research firms have recently commented on CXO. Piper Jaffray Companies reduced their price objective on shares of Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Scotiabank set a $145.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Monday, November 6th. Jefferies Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, October 9th. Finally, KLR Group lowered shares of Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a research note on Thursday, December 21st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $156.37.

Concho Resources Inc (NYSE:CXO) opened at $159.09 on Friday. The stock has a market cap of $23,473.15, a price-to-earnings ratio of 95.10 and a beta of 1.08. Concho Resources Inc has a 12 month low of $106.73 and a 12 month high of $159.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66.

Concho Resources (NYSE:CXO) last issued its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. Concho Resources’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. analysts predict that Concho Resources Inc will post 1.86 EPS for the current year.

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Concho Resources 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.

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

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