Concho Resources Inc (NYSE:CXO) Director Ray M. Poage sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the sale, the director now owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Concho Resources Inc (NYSE CXO) opened at $159.09 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 one year low of $106.73 and a one year high of $159.52. The firm has a market cap of $23,660.00, a price-to-earnings ratio of 41.87 and a beta of 1.08.
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 analysts’ consensus estimates of $0.26 by $0.19. The company had revenue of $627.00 million for the quarter, compared to the consensus estimate of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. 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 posted $0.32 EPS. research analysts expect that Concho Resources Inc will post 1.86 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in shares of Concho Resources by 3.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 26,695 shares of the oil and natural gas company’s stock worth $4,010,000 after buying an additional 1,000 shares during the last quarter. Atlantic Trust Group LLC increased its holdings in shares of Concho Resources by 33.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 100,220 shares of the oil and natural gas company’s stock worth $13,202,000 after buying an additional 24,975 shares during the last quarter. AXA increased its holdings in shares of Concho Resources by 1.6% in the 3rd quarter. AXA now owns 401,060 shares of the oil and natural gas company’s stock worth $52,828,000 after buying an additional 6,378 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Concho Resources by 5.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock worth $10,393,000 after buying an additional 4,091 shares during the last quarter. Finally, Davis Selected Advisers boosted its stake in shares of Concho Resources by 150.1% during the 3rd quarter. Davis Selected Advisers now owns 136,047 shares of the oil and natural gas company’s stock worth $17,923,000 after purchasing an additional 81,649 shares during the period. Hedge funds and other institutional investors own 94.47% of the company’s stock.
A number of analysts have recently weighed in on CXO shares. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Credit Suisse Group assumed coverage on shares of Concho Resources in a research note on Monday, December 11th. They issued a “neutral” rating and a $136.00 price target for the company. Jefferies Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Monday, October 9th. KeyCorp set a $150.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Barclays raised their target price on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $156.37.
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Concho Resources Company 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.
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