Concho Resources Inc (NYSE:CXO) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in Concho Resources Inc (NYSE:CXO) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,111 shares of the oil and natural gas company’s stock after acquiring an additional 2,257 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Concho Resources were worth $1,712,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CXO. BlackRock Inc. boosted its stake in Concho Resources by 1.4% in the second quarter. BlackRock Inc. now owns 13,655,162 shares of the oil and natural gas company’s stock valued at $1,408,940,000 after acquiring an additional 189,393 shares during the period. Pacer Advisors Inc. boosted its stake in Concho Resources by 10.7% in the third quarter. Pacer Advisors Inc. now owns 20,841 shares of the oil and natural gas company’s stock valued at $1,415,000 after acquiring an additional 2,006 shares during the period. Fox Run Management L.L.C. acquired a new position in Concho Resources in the third quarter valued at approximately $292,000. NuWave Investment Management LLC boosted its stake in Concho Resources by 91.8% in the third quarter. NuWave Investment Management LLC now owns 2,231 shares of the oil and natural gas company’s stock valued at $146,000 after acquiring an additional 1,068 shares during the period. Finally, DNB Asset Management AS boosted its stake in Concho Resources by 12.0% in the third quarter. DNB Asset Management AS now owns 24,522 shares of the oil and natural gas company’s stock valued at $1,665,000 after acquiring an additional 2,624 shares during the period. Institutional investors own 92.68% of the company’s stock.

Shares of NYSE CXO opened at $78.64 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $84.49 and a 200-day simple moving average of $75.44. The company has a market cap of $15.91 billion, a PE ratio of 12.36 and a beta of 1.46. Concho Resources Inc has a 12-month low of $61.37 and a 12-month high of $124.53.

A number of equities analysts have commented on the company. Morgan Stanley upgraded Concho Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $68.00 to $88.00 in a research note on Monday, January 13th. Guggenheim assumed coverage on Concho Resources in a research note on Monday, January 6th. They issued a “buy” rating and a $105.00 target price for the company. Williams Capital restated a “buy” rating and issued a $100.00 target price on shares of Concho Resources in a research note on Wednesday, October 30th. SunTrust Banks lifted their target price on Concho Resources from $70.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Finally, Raymond James lifted their target price on Concho Resources from $90.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $114.30.

About Concho Resources

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.

Further Reading: Trading Ex-Dividend

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

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