Concho Resources Inc (NYSE:CXO) SVP Lee Price Moncrief sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total transaction of $559,440.00. Following the completion of the transaction, the senior vice president now owns 16,193 shares in the company, valued at approximately $2,264,752.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
CXO traded down $1.84 during midday trading on Monday, reaching $156.39. The company had a trading volume of 1,314,900 shares, compared to its average volume of 1,981,609. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of 74.64 and a beta of 0.94. Concho Resources Inc has a 12-month low of $123.63 and a 12-month high of $163.11.
Concho Resources (NYSE:CXO) last released its earnings results on Wednesday, August 1st. The oil and natural gas company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.32. The firm had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $906.82 million. Concho Resources had a net margin of 34.13% and a return on equity of 5.37%. The company’s quarterly revenue was up 66.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Concho Resources Inc will post 4.71 earnings per share for the current year.
CXO has been the topic of several recent analyst reports. TheStreet upgraded shares of Concho Resources from a “c+” rating to a “b” rating in a report on Friday, September 28th. KLR Group raised shares of Concho Resources from a “hold” rating to a “buy” rating and lifted their price target for the company from $166.00 to $178.00 in a research note on Tuesday, July 24th. Williams Capital reaffirmed a “buy” rating and issued a $189.00 price target on shares of Concho Resources in a research note on Monday, July 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $220.00 price target on shares of Concho Resources in a research note on Friday, July 20th. Finally, Goldman Sachs Group raised shares of Concho Resources from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 18th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $175.91.
Hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Concho Resources during the 2nd quarter valued at approximately $166,000. First Allied Advisory Services Inc. bought a new stake in Concho Resources during the 1st quarter worth approximately $202,000. Summit X LLC bought a new stake in Concho Resources during the 2nd quarter worth approximately $203,000. KC Investment Advisors LLC bought a new stake in Concho Resources during the 2nd quarter worth approximately $204,000. Finally, Dupont Capital Management Corp bought a new stake in Concho Resources during the 1st quarter worth approximately $262,000. Institutional investors own 77.44% of the company’s stock.
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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