Public Employees Retirement Association of Colorado lifted its holdings in shares of Concho Resources Inc (NYSE:CXO) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,630 shares of the oil and natural gas company’s stock after buying an additional 940 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Concho Resources were worth $4,301,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Jennison Associates LLC grew its position in shares of Concho Resources by 10.0% during the 4th quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after buying an additional 561,485 shares during the last quarter. Carmignac Gestion grew its position in shares of Concho Resources by 7.6% during the 3rd quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after buying an additional 189,251 shares during the last quarter. American Century Companies Inc. grew its position in shares of Concho Resources by 8.8% during the 3rd quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after buying an additional 117,366 shares during the last quarter. Van ECK Associates Corp grew its position in Concho Resources by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,273,940 shares of the oil and natural gas company’s stock worth $167,803,000 after purchasing an additional 22,828 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 377,438 shares during the last quarter. 94.86% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total value of $5,925,600.00. Following the completion of the sale, the chairman now directly owns 737,837 shares of the company’s stock, valued at approximately $109,303,173.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP E Joseph Wright sold 83,759 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at $23,614,666.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,759 shares of company stock valued at $18,948,027. Company insiders own 0.99% of the company’s stock.

Several research analysts have commented on the stock. SunTrust Banks cut shares of Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 target price for the company in a research report on Thursday, February 1st. Deutsche Bank assumed coverage on shares of Concho Resources in a research report on Thursday, February 1st. They issued a “hold” rating and a $171.00 target price for the company. Morgan Stanley upped their target price on shares of Concho Resources from $155.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Jefferies Group set a $185.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Concho Resources has an average rating of “Buy” and an average price target of $168.55.

Shares of Concho Resources Inc (NYSE:CXO) opened at $138.98 on Friday. The firm has a market cap of $20,665.77, a P/E ratio of 83.72 and a beta of 1.00. Concho Resources Inc has a one year low of $106.73 and a one year high of $162.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32.

ILLEGAL ACTIVITY WARNING: This article was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://theolympiareport.com/2018/02/11/public-employees-retirement-association-of-colorado-acquires-940-shares-of-concho-resources-inc-cxo.html.

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.

Want to see what other hedge funds are holding CXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Concho Resources Inc (NYSE:CXO).

Institutional Ownership by Quarter for Concho Resources (NYSE:CXO)

Receive News & Ratings for Concho Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources and related companies with MarketBeat.com's FREE daily email newsletter.