News articles about Concho Resources (NYSE:CXO) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group ranks the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Concho Resources earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave press coverage about the oil and natural gas company an impact score of 45.8685975460462 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media headlines that may have effected Accern Sentiment’s analysis:
A number of research firms recently commented on CXO. Royal Bank of Canada set a $185.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus lowered their price target on shares of Concho Resources from $212.00 to $210.00 and set a “buy” rating for the company in a report on Monday. Zacks Investment Research lowered shares of Concho Resources from a “strong-buy” rating to a “hold” rating in a report on Monday. Jefferies Group set a $176.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, March 29th. Finally, Stephens reiterated a “buy” rating and set a $205.00 price target on shares of Concho Resources in a report on Thursday, March 15th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $171.95.
Shares of NYSE:CXO traded up $4.70 during midday trading on Friday, reaching $151.02. The company’s stock had a trading volume of 2,860,065 shares, compared to its average volume of 1,729,099. The company has a market capitalization of $21,878.70, a PE ratio of 72.26 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.51 and a quick ratio of 0.50. Concho Resources has a 12-month low of $106.73 and a 12-month high of $162.91.
Concho Resources (NYSE:CXO) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. The firm had revenue of $780.00 million for the quarter, compared to the consensus estimate of $720.51 million. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The company’s revenue was up 48.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. equities analysts anticipate that Concho Resources will post 3.74 EPS for the current fiscal year.
In other news, VP E Joseph Wright sold 83,759 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total value of $12,418,946.93. Following the sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at approximately $23,614,666.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the completion of the sale, the chairman now directly owns 737,837 shares in the company, valued at $109,303,173.18. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.
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Concho Resources Company Profile
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.
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