Concho Resources Inc (NYSE:CXO) Position Increased by Delek Group Ltd.

Delek Group Ltd. raised its position in Concho Resources Inc (NYSE:CXO) by 93.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 144,592 shares of the oil and natural gas company’s stock after acquiring an additional 70,000 shares during the period. Delek Group Ltd. owned approximately 0.07% of Concho Resources worth $15,965,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in shares of Concho Resources by 34.6% in the 3rd quarter. Vanguard Group Inc now owns 20,946,532 shares of the oil and natural gas company’s stock worth $3,199,583,000 after acquiring an additional 5,380,400 shares during the period. BlackRock Inc. lifted its stake in shares of Concho Resources by 2.6% in the fourth quarter. BlackRock Inc. now owns 13,635,329 shares of the oil and natural gas company’s stock valued at $1,401,577,000 after purchasing an additional 349,182 shares during the period. Geode Capital Management LLC lifted its stake in shares of Concho Resources by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock valued at $261,459,000 after purchasing an additional 181,294 shares during the period. Northern Trust Corp lifted its stake in shares of Concho Resources by 1.0% in the fourth quarter. Northern Trust Corp now owns 2,308,339 shares of the oil and natural gas company’s stock valued at $237,274,000 after purchasing an additional 23,914 shares during the period. Finally, Norges Bank acquired a new stake in shares of Concho Resources in the fourth quarter valued at about $166,890,000. Institutional investors own 94.56% of the company’s stock.

In related news, Chairman Timothy A. Leach sold 54,545 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.34, for a total value of $5,963,950.30. Following the completion of the sale, the chairman now directly owns 680,041 shares in the company, valued at $74,355,682.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven D. Gray sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $120.00, for a total transaction of $840,000.00. Following the completion of the sale, the director now owns 179,039 shares of the company’s stock, valued at $21,484,680. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,045 shares of company stock valued at $7,321,450. Insiders own 1.10% of the company’s stock.

Several analysts recently commented on the stock. SunTrust Banks reiterated a “buy” rating and issued a $135.00 price objective on shares of Concho Resources in a research note on Tuesday, June 11th. Wells Fargo & Co reduced their price objective on shares of Concho Resources from $174.00 to $151.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. They noted that the move was a valuation call. Barclays set a $153.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, April 11th. Williams Capital reiterated a “buy” rating and issued a $182.00 price objective on shares of Concho Resources in a research note on Sunday, April 21st. Finally, TheStreet cut shares of Concho Resources from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.88.

CXO traded up $1.34 during midday trading on Friday, reaching $103.18. 1,950,245 shares of the company’s stock were exchanged, compared to its average volume of 1,978,633. The firm has a market cap of $20.57 billion, a PE ratio of 22.48 and a beta of 1.19. Concho Resources Inc has a 1-year low of $93.31 and a 1-year high of $160.81. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $104.01.

Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Concho Resources had a return on equity of 4.92% and a net margin of 17.55%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. Equities analysts predict that Concho Resources Inc will post 4.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.48%. Concho Resources’s dividend payout ratio (DPR) is presently 10.89%.

Concho Resources Company Profile

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

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

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