Tortoise Capital Advisors L.L.C. Sells 317 Shares of Concho Resources Inc. (NYSE:CXO)

Tortoise Capital Advisors L.L.C. reduced its stake in shares of Concho Resources Inc. (NYSE:CXO) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,155 shares of the oil and natural gas company’s stock after selling 317 shares during the period. Tortoise Capital Advisors L.L.C. owned 0.10% of Concho Resources worth $17,155,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Concho Resources by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 12,380 shares of the oil and natural gas company’s stock valued at $1,641,000 after buying an additional 1,370 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Concho Resources by 4.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 127,726 shares of the oil and natural gas company’s stock valued at $16,393,000 after buying an additional 5,684 shares in the last quarter. Creative Planning boosted its position in shares of Concho Resources by 57.0% in the first quarter. Creative Planning now owns 2,766 shares of the oil and natural gas company’s stock valued at $355,000 after buying an additional 1,004 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Concho Resources by 5.1% in the first quarter. Gulf International Bank UK Ltd now owns 44,669 shares of the oil and natural gas company’s stock valued at $5,732,000 after buying an additional 2,175 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Concho Resources by 8.7% in the first quarter. National Pension Service now owns 130,696 shares of the oil and natural gas company’s stock valued at $16,692,000 after buying an additional 10,479 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

Concho Resources Inc. (NYSE CXO) opened at 116.16 on Tuesday. Concho Resources Inc. has a 52-week low of $112.73 and a 52-week high of $147.55. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 26.81 and a beta of 1.09. The stock has a 50 day moving average of $122.96 and a 200-day moving average of $129.53.

Concho Resources (NYSE:CXO) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, analysts expect that Concho Resources Inc. will post $1.57 EPS for the current year.

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Several equities analysts have commented on CXO shares. Stifel Nicolaus started coverage on shares of Concho Resources in a research report on Wednesday, April 12th. They issued a “buy” rating and a $206.00 price target for the company. Citigroup Inc. restated a “buy” rating and issued a $173.00 price objective (up from $172.00) on shares of Concho Resources in a report on Saturday, April 22nd. Royal Bank Of Canada set a $171.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Tuesday, April 25th. Scotiabank set a $156.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, Credit Suisse Group set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a report on Saturday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $154.05.

In other news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. Company insiders own 1.20% of the company’s stock.

About Concho Resources

Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.

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

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