Strs Ohio cut its position in Concho Resources Inc. (NYSE:CXO) by 47.0% during the second quarter, Holdings Channel reports. The firm owned 7,912 shares of the oil and natural gas company’s stock after selling 7,007 shares during the period. Strs Ohio’s holdings in Concho Resources were worth $961,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CXO. Balentine LLC increased its position in shares of 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 during the period. Exane Derivatives increased its position in shares of 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 during the period. NN Investment Partners Holdings N.V. increased its position in shares of 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 during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Concho Resources during the first quarter worth $174,000. Finally, Baird Financial Group Inc. bought a new position in shares of 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 111.08 on Wednesday. Concho Resources Inc. has a 12 month low of $110.05 and a 12 month high of $147.55. The company has a market capitalization of $16.39 billion, a PE ratio of 25.78 and a beta of 1.09. The stock’s 50 day moving average price is $122.97 and its 200 day moving average price is $128.05.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The firm had revenue of $567 million for the quarter, compared to analysts’ expectations of $626.09 million. During the same period in the previous year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 43.2% on a year-over-year basis. On average, analysts forecast that Concho Resources Inc. will post $1.62 EPS for the current year.

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A number of equities analysts recently weighed in on the stock. Barclays PLC cut their price target on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $178.00 price target on shares of Concho Resources in a report on Friday, May 12th. Stifel Nicolaus reissued a “buy” rating and issued a $192.00 price target on shares of Concho Resources in a report on Friday, July 14th. Bank of America Corporation downgraded shares of Concho Resources from a “buy” rating to a “neutral” rating and cut their price target for the stock from $155.00 to $128.00 in a report on Friday, June 30th. Finally, BidaskClub raised shares of Concho Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $153.50.

In other news, VP E Joseph Wright sold 16,696 shares of Concho Resources stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the transaction, the vice president now directly 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 SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Concho Resources Company 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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