Concho Resources Inc (CXO) Shares Sold by S&CO Inc.
S&CO Inc. trimmed its position in Concho Resources Inc (NYSE:CXO) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,325 shares of the oil and natural gas company’s stock after selling 400 shares during the quarter. S&CO Inc.’s holdings in Concho Resources were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of CXO. Itau Unibanco Holding S.A. bought a new stake in shares of Concho Resources in the 2nd quarter valued at approximately $166,000. Cerebellum GP LLC bought a new stake in shares of Concho Resources in the 3rd quarter valued at approximately $188,000. Summit X LLC bought a new stake in shares of Concho Resources in the 2nd quarter valued at approximately $203,000. KC Investment Advisors LLC bought a new stake in shares of Concho Resources in the 2nd quarter valued at approximately $204,000. Finally, IFP Advisors Inc increased its holdings in shares of Concho Resources by 85.6% in the 3rd quarter. IFP Advisors Inc now owns 1,444 shares of the oil and natural gas company’s stock valued at $221,000 after acquiring an additional 666 shares during the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
Shares of CXO opened at $142.92 on Thursday. The firm has a market cap of $28.31 billion, a P/E ratio of 68.38 and a beta of 1.00. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.24. Concho Resources Inc has a 12 month low of $123.63 and a 12 month high of $163.11.
In other Concho Resources news, SVP Erick Nelson sold 11,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $133.98, for a total transaction of $1,473,780.00. Following the completion of the transaction, the senior vice president now owns 51,058 shares in the company, valued at approximately $6,840,750.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lee Price Moncrief sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $139.86, for a total value of $559,440.00. Following the transaction, the senior vice president now owns 16,193 shares of the company’s stock, valued at approximately $2,264,752.98. The disclosure for this sale can be found here. Insiders have sold a total of 17,500 shares of company stock valued at $2,376,320 in the last quarter. 1.10% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on CXO shares. Morgan Stanley boosted their price target on Concho Resources from $155.00 to $163.00 and gave the company a “hold” rating in a report on Wednesday, September 26th. Jefferies Financial Group set a $203.00 price target on Concho Resources and gave the company a “buy” rating in a report on Friday, October 5th. SunTrust Banks upgraded Concho Resources from a “hold” rating to a “buy” rating and boosted their price target for the company from $155.00 to $170.00 in a report on Monday, September 24th. ValuEngine upgraded Concho Resources from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Finally, TheStreet upgraded Concho Resources from a “c+” rating to a “b” rating in a report on Friday, September 28th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $181.00.
Concho Resources Company 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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