Sei Investments Co. Trims Position in Concho Resources Inc (CXO)

Sei Investments Co. lessened its position in shares of Concho Resources Inc (NYSE:CXO) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,899 shares of the oil and natural gas company’s stock after selling 2,046 shares during the quarter. Sei Investments Co.’s holdings in Concho Resources were worth $23,419,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CXO. Janus Henderson Group PLC increased its position in Concho Resources by 113.8% during the second quarter. Janus Henderson Group PLC now owns 114,388 shares of the oil and natural gas company’s stock valued at $13,902,000 after acquiring an additional 60,895 shares during the last quarter. Lord Abbett & CO. LLC increased its position in Concho Resources by 76.0% during the second quarter. Lord Abbett & CO. LLC now owns 156,800 shares of the oil and natural gas company’s stock valued at $19,056,000 after acquiring an additional 67,717 shares during the last quarter. Hermes Investment Management Ltd. increased its position in Concho Resources by 42.9% during the third quarter. Hermes Investment Management Ltd. now owns 2,400 shares of the oil and natural gas company’s stock valued at $316,000 after acquiring an additional 720 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Concho Resources by 5.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 22,572 shares of the oil and natural gas company’s stock worth $2,973,000 after buying an additional 1,106 shares in the last quarter. Finally, Tributary Capital Management LLC increased its position in Concho Resources by 15.4% in the third quarter. Tributary Capital Management LLC now owns 10,400 shares of the oil and natural gas company’s stock worth $1,370,000 after buying an additional 1,390 shares in the last quarter. Institutional investors own 94.57% of the company’s stock.

Shares of Concho Resources Inc (NYSE:CXO) opened at $146.52 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. Concho Resources Inc has a 1 year low of $106.73 and a 1 year high of $162.91. The stock has a market capitalization of $21,786.94, a PE ratio of 88.27 and a beta of 1.00.

In related news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was 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 $3,741,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP E Joseph Wright sold 83,759 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total value of $12,418,946.93. Following the sale, the vice president now owns 159,268 shares of the company’s stock, valued at approximately $23,614,666.36. The disclosure for this sale can be found here. Insiders have sold 127,759 shares of company stock valued at $18,948,027 in the last quarter. 0.99% of the stock is currently owned by company insiders.

A number of brokerages have commented on CXO. SunTrust Banks cut Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Deutsche Bank began coverage on Concho Resources in a research report on Thursday, February 1st. They issued a “hold” rating and a $171.00 price target for the company. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 price target for the company in a research report on Thursday, February 1st. Sanford C. Bernstein began coverage on Concho Resources in a research report on Thursday, February 1st. They issued an “outperform” rating and a $187.00 price target for the company. Finally, Stifel Nicolaus set a $195.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Monday, January 29th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Concho Resources has a consensus rating of “Buy” and an average price target of $168.55.

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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.

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

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