Cubist Systematic Strategies LLC Has $311,000 Position in Concho Resources Inc (CXO)
Cubist Systematic Strategies LLC reduced its stake in shares of Concho Resources Inc (NYSE:CXO) by 67.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,362 shares of the oil and natural gas company’s stock after selling 5,000 shares during the period. Cubist Systematic Strategies LLC’s holdings in Concho Resources were worth $311,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Capital World Investors raised its position in shares of Concho Resources by 10.6% in 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 acquiring an additional 1,034,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Concho Resources by 3.1% in 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 acquiring an additional 454,428 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Concho Resources in the 2nd quarter worth about $52,513,000. Dimensional Fund Advisors LP raised its position in shares of Concho Resources by 45.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock worth $159,823,000 after acquiring an additional 377,438 shares in the last quarter. Finally, Carmignac Gestion raised its position in shares of Concho Resources by 11.2% in 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 acquiring an additional 248,406 shares in the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Jefferies Group set a $173.00 price objective on Concho Resources and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Stifel Nicolaus set a $185.00 price objective on Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Friday, December 15th. KLR Group lowered Concho Resources to a “hold” rating and set a $154.00 price objective for the company. in a research report on Wednesday, December 27th. Finally, Barclays lifted their price objective on Concho Resources from $144.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $154.89.
Shares of Concho Resources Inc (CXO) opened at $153.61 on Friday. 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 $22,840.00, a PE ratio of 40.42 and a beta of 1.08. Concho Resources Inc has a 12 month low of $106.73 and a 12 month high of $155.05.
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 1.85 earnings per share for the current year.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction dated 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 transaction, the director now owns 24,799 shares in the company, valued at approximately $3,741,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is currently owned by insiders.
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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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