Concho Resources Inc. (NYSE:CXO) CAO Brenda R. Schroer sold 1,800 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $138.04, for a total value of $248,472.00. Following the sale, the chief accounting officer now owns 8,060 shares in the company, valued at approximately $1,112,602.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Concho Resources Inc. (NYSE:CXO) traded down 2.98% during mid-day trading on Friday, reaching $134.26. The company’s stock had a trading volume of 689,689 shares. The company’s 50-day moving average is $134.35 and its 200 day moving average is $127.10. The firm’s market capitalization is $18.93 billion. Concho Resources Inc. has a 1-year low of $69.94 and a 1-year high of $143.60.
Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, November 8th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.14. Concho Resources had a positive return on equity of 0.93% and a negative net margin of 89.23%. The company had revenue of $430.55 million for the quarter, compared to the consensus estimate of $69.10 million. During the same period last year, the business posted $0.33 EPS. The company’s revenue was down 7.1% on a year-over-year basis. On average, analysts expect that Concho Resources Inc. will post $0.43 earnings per share for the current year.
A number of brokerages have recently weighed in on CXO. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Canaccord Genuity reaffirmed a “hold” rating and set a $120.00 target price (up previously from $104.00) on shares of Concho Resources in a report on Thursday, August 18th. SunTrust Banks Inc. lifted their target price on Concho Resources from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $130.00 target price on shares of Concho Resources in a report on Wednesday, August 3rd. Finally, KLR Group lifted their target price on Concho Resources from $138.00 to $153.00 and gave the stock an “accumulate” rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $139.85.
Hedge funds have recently bought and sold shares of the stock. Carmignac Gestion acquired a new stake in Concho Resources during the second quarter valued at approximately $209,179,000. JPMorgan Chase & Co. boosted its stake in Concho Resources by 43.6% in the third quarter. JPMorgan Chase & Co. now owns 5,144,449 shares of the company’s stock valued at $706,590,000 after buying an additional 1,561,545 shares in the last quarter. Capital Research Global Investors boosted its stake in Concho Resources by 10.8% in the second quarter. Capital Research Global Investors now owns 14,270,430 shares of the company’s stock valued at $1,702,034,000 after buying an additional 1,388,475 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Concho Resources by 39.6% in the third quarter. TIAA CREF Investment Management LLC now owns 4,120,419 shares of the company’s stock valued at $565,940,000 after buying an additional 1,169,713 shares in the last quarter. Finally, Standard Life Investments LTD boosted its stake in Concho Resources by 143.1% in the third quarter. Standard Life Investments LTD now owns 1,663,885 shares of the company’s stock valued at $228,502,000 after buying an additional 979,311 shares in the last quarter. 92.22% of the stock is owned by institutional investors and hedge funds.
About Concho Resources