Commerzbank Aktiengesellschaft FI raised its stake in Concho Resources Inc (NYSE:CXO) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,363 shares of the oil and natural gas company’s stock after acquiring an additional 718 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Concho Resources were worth $3,827,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Concho Resources by 73.5% in the 3rd quarter. Signaturefd LLC now owns 406 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 172 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Concho Resources in the 2nd quarter valued at about $41,000. Crewe Advisors LLC bought a new position in Concho Resources in the 2nd quarter valued at about $51,000. Covington Capital Management raised its holdings in Concho Resources by 81.2% in the 2nd quarter. Covington Capital Management now owns 500 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 224 shares during the period. Finally, NEXT Financial Group Inc bought a new position in Concho Resources in the 2nd quarter valued at about $53,000. 95.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CXO opened at $62.45 on Friday. Concho Resources Inc has a 12 month low of $61.37 and a 12 month high of $150.45. The firm’s 50 day moving average is $69.34 and its 200-day moving average is $91.86. The stock has a market capitalization of $12.56 billion, a PE ratio of 13.61 and a beta of 1.20. 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 (NYSE:CXO) last announced its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.05). Concho Resources had a return on equity of 4.12% and a net margin of 11.63%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts predict that Concho Resources Inc will post 2.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 9th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.50 annualized dividend and a dividend yield of 0.80%. Concho Resources’s dividend payout ratio is 10.89%.

Several research firms have weighed in on CXO. Johnson Rice cut shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Co lowered their price target on shares of Concho Resources from $105.00 to $104.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Stifel Nicolaus set a $188.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America lowered their price target on shares of Concho Resources from $145.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Mitsubishi UFJ Financial Group lowered their price target on shares of Concho Resources from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $134.80.

In other news, CFO Brenda R. Schroer purchased 1,500 shares of Concho Resources stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $69.67 per share, for a total transaction of $104,505.00. Following the transaction, the chief financial officer now owns 35,137 shares of the company’s stock, valued at approximately $2,447,994.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan J. Helms purchased 700 shares of Concho Resources stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $70.12 per share, for a total transaction of $49,084.00. Following the transaction, the director now directly owns 5,137 shares in the company, valued at approximately $360,206.44. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,200 shares of company stock worth $1,084,349 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Concho Resources Company 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.

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

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