Concho Resources Inc. (CXO) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of Concho Resources Inc. (NYSE:CXO) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,327 shares of the oil and natural gas company’s stock after purchasing an additional 970 shares during the quarter. Prudential Financial Inc. owned about 0.14% of Concho Resources worth $27,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Israel Discount Bank of New York grew its stake in shares of Concho Resources by 32.0% during the second quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 200 shares during the last quarter. Exane Derivatives grew its stake in shares of Concho Resources by 247.2% during the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after purchasing an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of Concho Resources by 22.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 200 shares during the last quarter. Sun Life Financial INC grew its stake in shares of Concho Resources by 10,850.0% during the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of Concho Resources during the second quarter valued at approximately $137,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on CXO. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Monday, November 6th. SunTrust Banks, Inc. set a $145.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research note on Tuesday, October 31st. Cowen and Company reissued a “hold” rating and set a $145.00 price target on shares of Concho Resources in a research note on Sunday, October 22nd. KeyCorp set a $150.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Morgan Stanley raised their price objective on shares of Concho Resources from $152.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $151.35.

Shares of Concho Resources Inc. (NYSE CXO) opened at $138.16 on Thursday. Concho Resources Inc. has a twelve month low of $106.73 and a twelve month high of $147.77. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market cap of $20,885.84, a price-to-earnings ratio of 84.61 and a beta of 1.09.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. analysts predict that Concho Resources Inc. will post 1.79 EPS for the current year.

WARNING: “Concho Resources Inc. (CXO) Shares Bought by Prudential Financial Inc.” was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.themarketsdaily.com/2017/11/16/concho-resources-inc-cxo-shares-bought-by-prudential-financial-inc.html.

Concho Resources Company Profile

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.

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply