Skandinaviska Enskilda Banken AB publ Acquires 2,444 Shares of Concho Resources Inc. (CXO)

Skandinaviska Enskilda Banken AB publ raised its holdings in Concho Resources Inc. (NYSE:CXO) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,650 shares of the oil and natural gas company’s stock after purchasing an additional 2,444 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Concho Resources were worth $5,354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CXO. C M Bidwell & Associates Ltd. boosted its holdings in shares of Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after acquiring an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Concho Resources by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after acquiring an additional 35 shares in the last quarter. Cadence Capital Management LLC boosted its holdings in shares of Concho Resources by 0.9% in the second quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock valued at $639,000 after acquiring an additional 48 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Concho Resources by 2.5% in the second quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock valued at $304,000 after acquiring an additional 60 shares in the last quarter. Finally, Symphony Asset Management LLC boosted its holdings in shares of Concho Resources by 2.5% in the second quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock valued at $341,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 94.55% of the company’s stock.

Several analysts have recently weighed in on CXO shares. Royal Bank Of Canada set a $158.00 target price on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, August 24th. Citigroup lowered their target price 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 reaffirmed a “buy” rating on shares of Concho Resources in a report on Friday, August 11th. Jefferies Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Monday, October 9th. Finally, Stifel Nicolaus set a $185.00 target price on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $153.89.

Shares of Concho Resources Inc. (CXO) opened at $141.46 on Monday. Concho Resources Inc. has a fifty-two week low of $106.73 and a fifty-two week high of $147.77. The stock has a market cap of $21,034.54, a PE ratio of 85.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.

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

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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.

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

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