California State Teachers Retirement System decreased its holdings in shares of Concho Resources Inc. (NYSE:CXO) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 268,484 shares of the oil and natural gas company’s stock after selling 24,002 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Concho Resources worth $35,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CXO. Janney Montgomery Scott LLC increased its position in Concho Resources by 137.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,698 shares of the oil and natural gas company’s stock worth $449,000 after purchasing an additional 2,139 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Concho Resources by 6.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 467,660 shares of the oil and natural gas company’s stock worth $56,835,000 after acquiring an additional 26,376 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Concho Resources by 6.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 13,992 shares of the oil and natural gas company’s stock worth $1,751,000 after acquiring an additional 898 shares during the period. Legal & General Group Plc grew its holdings in shares of Concho Resources by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 667,613 shares of the oil and natural gas company’s stock worth $81,133,000 after acquiring an additional 6,440 shares during the period. Finally, KBC Group NV grew its holdings in shares of Concho Resources by 54.2% in the 2nd quarter. KBC Group NV now owns 184,957 shares of the oil and natural gas company’s stock worth $22,478,000 after acquiring an additional 65,036 shares during the period. Institutional investors own 94.55% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Friday. Credit Suisse Group assumed coverage on Concho Resources in a report on Monday, December 11th. They issued a “neutral” rating and a $136.00 price target on the stock. Scotiabank set a $145.00 price target on Concho Resources and gave the stock a “buy” rating in a report on Saturday, November 25th. Barclays upped their price target on Concho Resources from $144.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Finally, SunTrust Banks set a $145.00 price target on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, October 31st. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $152.16.

Shares of Concho Resources Inc. (NYSE:CXO) opened at $136.40 on Friday. The company has a market capitalization of $20,282.13, a price-to-earnings ratio of 82.17 and a beta of 1.09. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources Inc. has a fifty-two week low of $106.73 and a fifty-two week high of $147.77.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. Concho Resources’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. equities research analysts forecast that Concho Resources Inc. will post 1.82 earnings per share for the current year.

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About Concho Resources

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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