TD Asset Management Inc. raised its stake in shares of Concho Resources Inc. (NYSE:CXO) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 92,774 shares of the oil and natural gas company’s stock after buying an additional 1,168 shares during the period. TD Asset Management Inc.’s holdings in Concho Resources were worth $11,275,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Balentine LLC increased its position in Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock worth $107,000 after buying an additional 530 shares in the last quarter. Exane Derivatives increased its position in Concho Resources by 247.2% in the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock worth $126,000 after buying an additional 739 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock worth $132,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Concho Resources during the first quarter worth $174,000. Finally, Baird Financial Group Inc. purchased a new position in Concho Resources during the first quarter worth $201,000. 92.44% of the stock is currently owned by institutional investors.

Shares of Concho Resources Inc. (CXO) opened at 113.11 on Tuesday. The company’s 50-day moving average price is $123.11 and its 200 day moving average price is $128.29. Concho Resources Inc. has a 52 week low of $112.73 and a 52 week high of $147.55. The company has a market cap of $16.69 billion, a P/E ratio of 26.25 and a beta of 1.09.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. Concho Resources’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities research analysts anticipate that Concho Resources Inc. will post $1.61 earnings per share for the current fiscal year.

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CXO has been the topic of a number of recent research reports. Citigroup Inc. lowered their target price on Concho Resources from $168.00 to $166.00 and set a “buy” rating on the stock in a report on Thursday, July 13th. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group set a $164.00 target price on Concho Resources and gave the company a “buy” rating in a report on Friday, June 2nd. BMO Capital Markets reissued a “buy” rating and issued a $180.00 target price on shares of Concho Resources in a report on Thursday, June 22nd. Finally, Scotiabank set a $156.00 target price on Concho Resources and gave the company a “buy” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $152.79.

In related news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the completion of the transaction, the vice president now owns 132,388 shares of the company’s stock, valued at approximately $15,203,437.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence J. Nagy sold 120,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total value of $32,400.00. Corporate insiders own 1.20% of the company’s stock.

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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