Waddell & Reed Financial Inc. cut its holdings in Concho Resources Inc (NYSE:CXO) by 15.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,695 shares of the oil and natural gas company’s stock after selling 49,580 shares during the period. Waddell & Reed Financial Inc. owned approximately 0.14% of Concho Resources worth $38,419,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Concho Resources in the second quarter valued at about $166,000. First Allied Advisory Services Inc. purchased a new position in shares of Concho Resources in the first quarter valued at about $202,000. KC Investment Advisors LLC purchased a new position in shares of Concho Resources in the second quarter valued at about $204,000. Cornerstone Wealth Management LLC purchased a new position in shares of Concho Resources in the second quarter valued at about $232,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Concho Resources in the second quarter valued at about $242,000. 77.40% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on CXO. Piper Jaffray Companies restated a “buy” rating and issued a $220.00 price objective on shares of Concho Resources in a research report on Friday, July 20th. Goldman Sachs Group upgraded shares of Concho Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 18th. ValuEngine upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and issued a $200.00 price objective on shares of Concho Resources in a research report on Friday, July 13th. Finally, Williams Capital restated a “buy” rating and issued a $189.00 price objective on shares of Concho Resources in a research report on Monday, July 23rd. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $176.00.

Shares of NYSE CXO opened at $141.63 on Tuesday. Concho Resources Inc has a 1 year low of $121.45 and a 1 year 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. The stock has a market cap of $28.26 billion, a P/E ratio of 67.77 and a beta of 1.01.

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

In other Concho Resources news, SVP Erick Nelson sold 11,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $133.98, for a total value of $1,473,780.00. Following the sale, the senior vice president now owns 51,058 shares in the company, valued at $6,840,750.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark B. Puckett acquired 2,000 shares of the business’s stock in a transaction on Monday, August 6th. The stock was acquired at an average price of $134.39 per share, for a total transaction of $268,780.00. Following the acquisition, the director now owns 28,535 shares of the company’s stock, valued at approximately $3,834,818.65. The disclosure for this purchase can be found here. Insiders have sold 17,500 shares of company stock worth $2,376,320 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Concho Resources Profile

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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