Axiom International Investors LLC DE reduced its stake in shares of Concho Resources Inc. (NYSE:CXO) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 278,980 shares of the oil and natural gas company’s stock after selling 39,264 shares during the period. Axiom International Investors LLC DE owned 0.19% of Concho Resources worth $36,747,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CXO. JPMorgan Chase & Co. raised its position in Concho Resources by 30.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock worth $825,288,000 after purchasing an additional 1,599,084 shares during the last quarter. Capital World Investors raised its position in Concho Resources by 10.6% during the 2nd quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock worth $1,311,613,000 after purchasing an additional 1,034,000 shares during the last quarter. Vanguard Group Inc. raised its position in Concho Resources by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock worth $1,839,892,000 after purchasing an additional 454,428 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in Concho Resources during the 2nd quarter worth $52,513,000. Finally, Carmignac Gestion raised its position in Concho Resources by 11.2% during the 2nd quarter. Carmignac Gestion now owns 2,474,544 shares of the oil and natural gas company’s stock worth $300,731,000 after purchasing an additional 248,406 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on CXO. Piper Jaffray Companies lowered their target price on Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Barclays PLC lowered their price objective on Concho Resources from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. BMO Capital Markets reissued a “buy” rating on shares of Concho Resources in a research report on Friday, August 11th. Finally, Scotiabank set a $145.00 price objective on Concho Resources and gave the stock a “buy” rating in a research report on Saturday. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $153.89.

Shares of Concho Resources Inc. (NYSE:CXO) opened at $140.58 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $20,900.00, a PE ratio of 84.69 and a beta of 1.09. Concho Resources Inc. has a 12 month low of $106.73 and a 12 month high of $147.77.

Concho Resources (NYSE:CXO) last issued its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ 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%. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. analysts anticipate that Concho Resources Inc. will post 1.82 earnings per share 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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