American Century Companies Inc. cut its stake in Concho Resources Inc (NYSE:CXO) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,438,296 shares of the oil and natural gas company’s stock after selling 17,986 shares during the quarter. American Century Companies Inc.’s holdings in Concho Resources were worth $216,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Concho Resources by 325.2% in the fourth quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock worth $137,000 after purchasing an additional 696 shares during the last quarter. C M Bidwell & Associates Ltd. raised its stake in shares of Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after purchasing an additional 20 shares during the last quarter. Greylin Investment Mangement Inc. purchased a new stake in shares of Concho Resources in the fourth quarter worth approximately $225,000. Commonwealth Equity Services Inc purchased a new stake in shares of Concho Resources in the third quarter worth approximately $206,000. Finally, Checchi Capital Advisers LLC purchased a new stake in shares of Concho Resources in the fourth quarter worth approximately $243,000. 94.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Concho Resources Inc (CXO) opened at $149.05 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $22,160.00, a P/E ratio of 39.22 and a beta of 1.00. Concho Resources Inc has a 52-week low of $106.73 and a 52-week high of $162.91.

Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.19. The company had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. Concho Resources’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. research analysts anticipate that Concho Resources Inc will post 1.89 EPS for the current fiscal year.

In related news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total transaction of $603,480.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.99% of the company’s stock.

CXO has been the subject of several analyst reports. Morgan Stanley increased their price objective on Concho Resources from $155.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Stifel Nicolaus set a $195.00 price objective on Concho Resources and gave the stock a “buy” rating in a research note on Monday, January 29th. BMO Capital Markets reissued a “buy” rating and issued a $200.00 price objective on shares of Concho Resources in a research note on Sunday, January 14th. Barclays increased their price objective on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Finally, Zacks Investment Research downgraded Concho Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $168.55.

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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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