Pax World Management LLC Has $3,823,000 Stake in Concho Resources Inc. (CXO)

Pax World Management LLC maintained its position in Concho Resources Inc. (NYSE:CXO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,459 shares of the oil and natural gas company’s stock at the end of the second quarter. Pax World Management LLC’s holdings in Concho Resources were worth $3,823,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CXO. State Board of Administration of Florida Retirement System boosted its position in Concho Resources by 2.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 212,655 shares of the oil and natural gas company’s stock valued at $25,844,000 after buying an additional 5,662 shares in the last quarter. Marshall Wace LLP bought a new position in Concho Resources during the second quarter valued at approximately $717,000. Marshall Wace North America L.P. boosted its position in Concho Resources by 2.1% in the second quarter. Marshall Wace North America L.P. now owns 42,813 shares of the oil and natural gas company’s stock valued at $5,223,000 after buying an additional 888 shares in the last quarter. Jennison Associates LLC boosted its position in Concho Resources by 3.6% in the second quarter. Jennison Associates LLC now owns 6,038,410 shares of the oil and natural gas company’s stock valued at $733,848,000 after buying an additional 211,679 shares in the last quarter. Finally, Nippon Life Insurance Co. boosted its position in Concho Resources by 11.1% in the second quarter. Nippon Life Insurance Co. now owns 9,496 shares of the oil and natural gas company’s stock valued at $1,154,000 after buying an additional 946 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Concho Resources Inc. (NYSE CXO) opened at 108.50 on Tuesday. Concho Resources Inc. has a 52-week low of $107.73 and a 52-week high of $147.55. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 25.18 and a beta of 1.09. The company has a 50-day moving average of $121.78 and a 200 day moving average of $127.16.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $567 million during the quarter, compared to analyst estimates of $626.09 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. On average, equities research analysts anticipate that Concho Resources Inc. will post $1.63 EPS for the current year.

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Several equities analysts have recently commented on the stock. Citigroup Inc. lowered their price target on shares of Concho Resources from $151.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. BMO Capital Markets restated a “buy” rating on shares of Concho Resources in a report on Friday, August 11th. Zacks Investment Research cut shares of Concho Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC lowered their price target on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Finally, BidaskClub cut shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $151.53.

In other news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the sale, the vice president now owns 132,388 shares of the company’s stock, valued at approximately $15,203,437.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by corporate insiders.

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.

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

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