Concho Resources Inc (NYSE:CXO) Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the sale, the director now owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Concho Resources Inc (CXO) traded up $1.87 during midday trading on Friday, hitting $161.66. The stock had a trading volume of 847,153 shares, compared to its average volume of 1,040,000. Concho Resources Inc has a 1-year low of $106.73 and a 1-year high of $162.21. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market cap of $24,040.00, a P/E ratio of 42.54 and a beta of 1.08.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.19. Concho Resources had a negative return on equity of 5.22% and a negative net margin of 18.02%. The business had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. research analysts forecast that Concho Resources Inc will post 1.88 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Israel Discount Bank of New York boosted its position in Concho Resources by 32.0% during the 2nd quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 200 shares during the period. Sun Life Financial INC boosted its position in Concho Resources by 10,850.0% during the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after purchasing an additional 1,085 shares during the period. Twin Tree Management LP acquired a new position in Concho Resources during the 2nd quarter valued at approximately $137,000. C M Bidwell & Associates Ltd. boosted its position in Concho Resources by 1.4% during the 2nd 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 purchasing an additional 20 shares during the period. Finally, Commonwealth Equity Services Inc acquired a new position in Concho Resources during the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
Several equities research analysts have issued reports on CXO shares. Scotiabank set a $145.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Saturday, November 25th. Jefferies Group upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a report on Monday, October 9th. Stifel Nicolaus set a $185.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Monday, October 16th. Finally, KeyCorp set a $150.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $162.89.
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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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