Gradient Investments LLC Sells 1,418 Shares of Concho Resources Inc (CXO)

Gradient Investments LLC decreased its holdings in Concho Resources Inc (NYSE:CXO) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,448 shares of the oil and natural gas company’s stock after selling 1,418 shares during the quarter. Gradient Investments LLC’s holdings in Concho Resources were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC boosted its stake in shares of Concho Resources by 10.0% in the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after purchasing an additional 561,485 shares during the period. Carmignac Gestion boosted its stake in shares of Concho Resources by 7.6% in the third quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after purchasing an additional 189,251 shares during the period. American Century Companies Inc. boosted its stake in shares of Concho Resources by 8.8% in the third quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after purchasing an additional 117,366 shares during the period. Van ECK Associates Corp boosted its stake in shares of Concho Resources by 1.8% in the third quarter. Van ECK Associates Corp now owns 1,273,940 shares of the oil and natural gas company’s stock valued at $167,803,000 after purchasing an additional 22,828 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Concho Resources by 45.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock valued at $159,823,000 after purchasing an additional 377,438 shares during the period. 94.57% of the stock is owned by institutional investors and hedge funds.

CXO has been the subject of several recent research reports. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Friday, December 15th. Jefferies Group set a $173.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Scotiabank set a $145.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, November 25th. KeyCorp set a $150.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, SunTrust Banks set a $145.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $168.55.

In other news, Director Ray M. Poage sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the completion of the sale, the director now owns 24,799 shares in the company, valued at approximately $3,741,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the sale, the chairman now owns 737,837 shares of the company’s stock, valued at approximately $109,303,173.18. The disclosure for this sale can be found here. Insiders have sold a total of 127,759 shares of company stock valued at $18,948,027 in the last 90 days. Insiders own 0.99% of the company’s stock.

Shares of Concho Resources Inc (NYSE CXO) opened at $143.48 on Tuesday. The firm has a market cap of $20,665.77, a P/E ratio of 83.72 and a beta of 1.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources Inc has a 12-month low of $106.73 and a 12-month high of $162.91.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://transcriptdaily.com/2018/02/13/gradient-investments-llc-sells-1418-shares-of-concho-resources-inc-cxo.html.

Concho Resources 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 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.

Leave a Reply