Axiom International Investors LLC DE Sells 39,264 Shares of Concho Resources Inc. (CXO)

Axiom International Investors LLC DE reduced its position in Concho Resources Inc. (NYSE:CXO) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,980 shares of the oil and natural gas company’s stock after selling 39,264 shares during the period. Axiom International Investors LLC DE owned approximately 0.19% of Concho Resources worth $36,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Concho Resources by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock valued at $1,839,892,000 after buying an additional 454,428 shares during the period. Capital World Investors raised its holdings in shares of Concho Resources by 10.6% during the 2nd quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock valued at $1,311,613,000 after buying an additional 1,034,000 shares during the period. State Street Corp raised its holdings in shares of Concho Resources by 0.3% during the 2nd quarter. State Street Corp now owns 7,893,306 shares of the oil and natural gas company’s stock valued at $959,272,000 after buying an additional 20,760 shares during the period. JPMorgan Chase & Co. increased its holdings in Concho Resources by 30.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock worth $825,288,000 after purchasing an additional 1,599,084 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Concho Resources by 3.6% during the 2nd quarter. Jennison Associates LLC now owns 6,038,410 shares of the oil and natural gas company’s stock worth $733,848,000 after purchasing an additional 211,679 shares during the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on CXO. Scotiabank set a $145.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Saturday, November 25th. Barclays lifted their price objective on Concho Resources from $144.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Monday, November 6th. SunTrust Banks set a $145.00 price target on Concho Resources and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, Cowen reiterated a “hold” rating and issued a $145.00 price target on shares of Concho Resources in a report on Sunday, October 22nd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and an average target price of $153.89.

Shares of Concho Resources Inc. (CXO) opened at $138.31 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $20,697.00, a price-to-earnings ratio of 83.85 and a beta of 1.09. Concho Resources Inc. has a twelve month low of $106.73 and a twelve month high of $147.77.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. The company had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. Concho Resources’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. analysts forecast that Concho Resources Inc. will post 1.82 EPS for the current year.

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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.

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

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