Westpac Banking Corp raised its position in Concho Resources Inc (NYSE:CXO) by 33.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,188 shares of the oil and natural gas company’s stock after purchasing an additional 23,734 shares during the quarter. Westpac Banking Corp’s holdings in Concho Resources were worth $9,821,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CXO. Geode Capital Management LLC boosted its holdings in shares of Concho Resources by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock worth $261,459,000 after buying an additional 181,294 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of Concho Resources by 3.1% in the first quarter. Chartwell Investment Partners LLC now owns 5,574 shares of the oil and natural gas company’s stock worth $618,000 after buying an additional 170 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Concho Resources in the first quarter worth about $50,000. Louisiana State Employees Retirement System boosted its holdings in shares of Concho Resources by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the oil and natural gas company’s stock worth $1,176,000 after buying an additional 100 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in shares of Concho Resources in the first quarter worth about $242,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

In other Concho Resources news, Director Susan J. Helms acquired 700 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $70.12 per share, with a total value of $49,084.00. Following the completion of the transaction, the director now owns 5,137 shares in the company, valued at $360,206.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary A. Merriman acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $69.90 per share, for a total transaction of $139,800.00. Following the transaction, the director now owns 44,815 shares of the company’s stock, valued at approximately $3,132,568.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 14,700 shares of company stock worth $979,844. Insiders own 1.10% of the company’s stock.

CXO has been the subject of several recent analyst reports. Raymond James decreased their target price on shares of Concho Resources from $150.00 to $130.00 and set a “strong-buy” rating for the company in a report on Friday, August 2nd. Barclays increased their price target on shares of Concho Resources from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Stifel Nicolaus set a $188.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Friday, August 2nd. SunTrust Banks reduced their price target on shares of Concho Resources to $100.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Williams Capital reissued a “buy” rating and issued a $155.00 price target (down from $171.00) on shares of Concho Resources in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $148.24.

CXO traded up $1.20 during midday trading on Thursday, hitting $70.07. 43,599 shares of the company’s stock traded hands, compared to its average volume of 3,778,811. The stock has a market capitalization of $14.27 billion, a P/E ratio of 15.02 and a beta of 1.15. The company’s fifty day moving average price is $92.21. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. Concho Resources Inc has a one year low of $63.92 and a one year high of $160.81.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Concho Resources had a net margin of 11.63% and a return on equity of 4.12%. Concho Resources’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. On average, equities analysts forecast that Concho Resources Inc will post 3.3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 9th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, August 8th. Concho Resources’s payout ratio is presently 10.89%.

Concho Resources Profile

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

Featured Article: Cryptocurrencies

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.