HPM Partners LLC grew its position in shares of Concho Resources Inc (NYSE:CXO) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,217 shares of the oil and natural gas company’s stock after buying an additional 757 shares during the quarter. HPM Partners LLC’s holdings in Concho Resources were worth $722,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC purchased a new position in Concho Resources during the 2nd quarter worth $166,582,000. PointState Capital LP acquired a new position in shares of Concho Resources during the 2nd quarter worth $31,890,000. SCP Investment LP acquired a new position in shares of Concho Resources during the 2nd quarter worth $5,174,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Concho Resources by 1.6% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 44,700 shares of the oil and natural gas company’s stock worth $6,184,000 after purchasing an additional 700 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Concho Resources during the 2nd quarter worth $255,000. Institutional investors own 77.40% of the company’s stock.

A number of research firms have recently weighed in on CXO. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “strong-buy” rating and set a $143.00 price target on the stock in a research note on Monday, June 25th. Susquehanna Bancshares began coverage on shares of Concho Resources in a research note on Wednesday, July 11th. They set a “positive” rating and a $175.00 price target on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $220.00 price target on shares of Concho Resources in a research note on Friday, July 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $200.00 price target on shares of Concho Resources in a research note on Friday, July 13th. Finally, TheStreet cut shares of Concho Resources from a “b” rating to a “c+” rating in a research note on Tuesday, August 14th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Concho Resources presently has an average rating of “Buy” and an average price target of $176.00.

Shares of NYSE CXO opened at $141.63 on Tuesday. The stock has a market capitalization of $28.26 billion, a P/E ratio of 67.77 and a beta of 1.01. Concho Resources Inc has a 52 week low of $121.45 and a 52 week high of $163.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 0.76.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, August 1st. The oil and natural gas company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.32. The firm had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $906.82 million. Concho Resources had a net margin of 34.13% and a return on equity of 5.37%. The firm’s revenue was up 66.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. equities research analysts expect that Concho Resources Inc will post 4.59 earnings per share for the current year.

In other Concho Resources news, Director Mark B. Puckett acquired 2,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were purchased at an average cost of $134.39 per share, with a total value of $268,780.00. Following the purchase, the director now owns 28,535 shares in the company, valued at $3,834,818.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lee Price Moncrief sold 4,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total transaction of $559,440.00. Following the completion of the sale, the senior vice president now directly owns 16,193 shares in the company, valued at $2,264,752.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,500 shares of company stock worth $2,376,320. 1.10% of the stock is owned by corporate insiders.

About Concho Resources

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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