Concho Resources Inc. (NYSE:CXO) VP E Joseph Wright sold 16,696 shares of Concho Resources stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the transaction, the vice president now owns 132,388 shares in the company, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Concho Resources Inc. (NYSE:CXO) opened at 111.08 on Wednesday. The stock has a 50 day moving average price of $122.97 and a 200 day moving average price of $128.05. The firm has a market cap of $16.39 billion, a P/E ratio of 25.78 and a beta of 1.09. Concho Resources Inc. has a 52-week low of $110.05 and a 52-week high of $147.55.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The business had revenue of $567 million during the quarter, compared to analyst estimates of $626.09 million. During the same period in the previous year, the business earned $0.26 EPS. Concho Resources’s revenue was up 43.2% compared to the same quarter last year. Equities analysts predict that Concho Resources Inc. will post $1.62 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in Concho Resources by 10.1% in the second quarter. Sterling Capital Management LLC now owns 42,219 shares of the oil and natural gas company’s stock worth $5,131,000 after buying an additional 3,871 shares in the last quarter. Nomura Holdings Inc. raised its position in Concho Resources by 76.2% in the second quarter. Nomura Holdings Inc. now owns 25,782 shares of the oil and natural gas company’s stock worth $3,132,000 after buying an additional 11,148 shares in the last quarter. California State Teachers Retirement System raised its position in Concho Resources by 1.2% in the second quarter. California State Teachers Retirement System now owns 292,486 shares of the oil and natural gas company’s stock worth $35,545,000 after buying an additional 3,573 shares in the last quarter. 361 Capital LLC raised its position in Concho Resources by 221.6% in the second quarter. 361 Capital LLC now owns 52,838 shares of the oil and natural gas company’s stock worth $6,421,000 after buying an additional 36,406 shares in the last quarter. Finally, TVR Capital Management LP raised its position in Concho Resources by 450.3% in the second quarter. TVR Capital Management LP now owns 112,876 shares of the oil and natural gas company’s stock worth $13,718,000 after buying an additional 92,366 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
A number of brokerages have recently commented on CXO. Citigroup Inc. cut their price target on Concho Resources from $151.00 to $149.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets restated a “buy” rating on shares of Concho Resources in a report on Friday, August 11th. Zacks Investment Research lowered Concho Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC cut their price target on Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Finally, BidaskClub lowered Concho Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Concho Resources has an average rating of “Hold” and a consensus target price of $153.50.
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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